We are not a retirement village. We are defi nitely not
a care home.’ BILL BURR MANAGING DIRECTOR CHAP HOMES
& DIRECTOR WOODLAND GROVE
first of its kind in the north east. With just under 50 properties on-site, it offers those over the age of 55 the chance to own a luxurious apartment in a stunning location, close to many amenities and leisure pursuits. It deliberately sidesteps common retirement village stereotypes. Bill Burr, MD of CHAP Homes and director
of Woodland Grove explains, “We are not a retirement village. We are definitely not a care home. Some owners are still in full-time work, most are very active.” Woodland Grove reflects an evolving type of residence aimed at the active lifestyle of the older generation, not at their alleged weakness and frailty. Apartment owners Mr and Mrs Burt
downsized to Woodland Grove because their family home had become too big to maintain. They were impressed with the size of the apartments and have found their experience of an over 55s development anything but stuffy or claustrophobic. “We’re always on the go now that we have more time. We’re much fitter than our parents were at our age and hope to keep it that way.”
DOWNSIZING REASONS AND CHOICES The choice to downsize requires careful consideration and evaluation by house owners. It is not a suitable or attractive option for everyone. To some, selling the family home and moving away from emotional attachments, friendships and a strong sense of familiarity might be unthinkable. For others, downsizing is the next logical step in a life well-lived. Often the larger house that was once perfect for family life of thirty years ago is unsuitable for the lifestyle that the owners now lead. A smaller and more manageable property is an ideal solution for many. The most common reason for downsizing is to release trapped
equity. However, Standard Life found that the average weekly money provided through downsizing is £43.50. This was down from £53.40 in 2008. Andrew Tully, senior pensions policy manager at Standard Life said, “Banking on downsizing to generate sufficient income is a potential retirement disaster unless you have also made provision elsewhere.” Participants in research conducted by the RICS agreed that they had not found the financial aspect of downsizing advantageous. However, many added that with increasing age, the importance of money had declined and been outweighed by the other benefits of downsizing. The emphasis at Woodland Grove on property manageability seems appropriately pitched.
Top: Woodland Grove. Above: McCarthy & Stone
Caiystane Court. Left: Mr & Mrs Burt
LOCAL GOVERNMENT ENCOURAGEMENT Local government may also have a role to play. In 2010, Aberdeen City Council began to offer financial
incentives to downsize. They provide up to £3,000 to
encourage those living in unsuitably large or impractical housing to downsize to somewhere more appropriate. The hope is to free up housing for families currently living in crowded conditions. Aberdeen City councillor Mark McDonald commented that the scheme had been a “modest success.” He noted that other local councils and the Scottish government were also interested in the scheme. The Knight Frank report continued, “The growth in housing
wealth held by the expanding older age group offers a significant opportunity for developers of retirement housing.” Before developers can capitalise on this, those of retirement age
must be made more aware of their choices. Time must be spent getting to know what the older generation want from their future homes. Increasing awareness of the possibilities of downsizing will not only help to alleviate housing shortages and overcrowding; it will also allow the older generation to make informed choices about their home as they approach their ‘third age’. Bill Burr concludes, “It’s important that house builders reflect the
way people actually live their lives. This is a well-tested concept in other countries. As the number of people aged over 55 increases, the UK needs to catch up.”
www.woodlandgrove.co.uk www.chap.co.uk www.knightfrank.co.uk/residential/institutional/documents/pdfRetire- mentReport.pdf
This feature is online at:
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PROPERTYdrum MAY 2011 43
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