6 INDUSTRY NEWS
Legal & General launches retirement sector developer
amenities they have to offer as well as to be closer to their loved ones and transport links. “We are establishing the Guild to
address this staggering opportunity and tackle the NHS and care crisis head on. This forms an excellent extension of Legal & General’s retirement ecosystem. Nobody knows UK pensioners better; we are the largest UK manager of pension scheme assets, have over three million DC pension scheme customers and pay over one million pensioners a month. Through Guild Living and together with our existing out- of-town offering, we will now be delivering over 7,000 later living homes over the next five years.”
partner at Newgate Communications, said: “It’s concerning that the blame game is growing at a time when we need to be building such a significant number of homes. There’s a disconnect between councillors and housebuilders and it would be no surprise to find these results mirroring each other if you asked the private sector for their opinions on local planning authorities. “The housing crisis must be tackled together: communication, mutual under- standing and trust are vital in delivering schemes that work for everyone – not least, local communities.”
Housing crisis is worsening, says councillors
A new ‘urban later living’ developer and operator is being launched as part of an expansion of Legal & General. Named Guild Living, the company plans
to deliver over 3,000 new homes over the next five years, equating to a gross devel- opment value of around £2bn. The homes, aimed at the over 65s, will also focus on social and mental activation in order to combat loneliness. Reportedly inspired by the UK’s ageing
population, and the fact that the world’s population are continually moving towards urban areas, the new company is a partner- ship between Legal & General and a team of global experts in design, development and wellness. Guild Living has launched with two
sites. These are a 4.5 acre river frontage site in Bath city centre, and a 2.7 acre site in Epsom, Surrey. Hosting a ‘Guild Living community,’ each site includes around 200 apartments and a restaurant, plus a physio- therapy gym and pool, consultant rooms for GP surgeries, a children’s nursery and retail space for local businesses – all of which will be open to the local community. In Epsom, the new scheme will include keyworker units and transitional care suites, available to the NHS as and when required. “Phil Bayliss, CEO of Later Living at
Legal & General and chairman at Guild Living, explained further: “With over three million over 60s in UK seeking to downsize their homes, we see a £100bn investment opportunity. 84 per cent of the UK population lives in urban areas and we expect retirees to continue to migrate to UK towns and cities to enjoy all the local
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Local councillors feel that the housing crisis is getting worse, according to a survey of 344 planning committee members nationwide. Newgate’s Planning Committee
Barometer suggested that challenging relationships within the planning system are ‘stymying’ the UK’s ability to tackle the issue.
62 per cent of councillors surveyed think the housing crisis is getting worse – a figure that rises to 81 per cent in the North East and 73 per cent in London, and 68 per cent of councillors think housing supply is either “severely lacking” or “could do with a little more.”
Alongside this, 40 per cent of respondents had voted against officers’ recommendations 3-5 times in the past 12 months. 75 per cent of respondents reported that
they believe viability assessments are being used by developers to avoid planning obliga- tions, rising from 60 per cent last year, while 65 per cent of councillors blamed slow build- out rates on developers – an increase of 14 per cent from 2018.
Reportedly a significant shift from last
year, the number of respondents who cited strength of community opposition as a challenge to delivery more than doubled (18 per cent in 2018, 41 per cent in 2019). Meanwhile, in what Newgate believes is a sign that council attitudes to green belt development could be softening, only 14 per cent of respondents saw preserving the green belt as a priority, down 4 per cent from last year. However, there was no change in support for a review of the green belt (43 per cent this year and last). Discussing the findings, Perry Miller,
Discounted homes receive Government support
Thousands of discounted homes are to be delivered though an £8.5m support package launched by Housing Minister Kit Malthouse. Volunteer groups will be able to apply for between £10,000 and £50,000 to help identify suitable sites for discounted homes – properties built for people to buy at affordable rates – as well as get planning permission for them and to provide technical support. The Government will be making the
money available as a three year pilot project, which it hopes will help to provide cut-price homes for younger people and families in need of housing through locally-led neighbourhood plans.
Minister of State for Housing, Kit Malthouse, commented on the announcement: “Supporting volunteers who are passionate about building more of the homes we need in their communities is something I’m fully behind, and I want to see far more people getting involved across England.
“This funding is on top of the £26m
already available to help get neighbourhood plans over the line, which act as powerful tools for communities to be involved in the planning of their local area – providing different housing types for those who need new homes.”
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