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Research suggests men and women tend to come at the issue of paying tax from a different direction


Grey area


A new development in SW3 welcomes the most affluent of Chelsea pensioners, says Teresa Levonian Cole


AURIENS, A NEW £250 million-plus development of one- and two-bedroom apartments in Chelsea, opened its doors on 1 September with the aim of redefining ‘later living’. Its 56 luxury apartments are available for rental to the over-65s, on yearly renewable leases. ‘It is a familiar model in affluent parts of


the US, where there are waiting lists of two to five years,’ says David Meagher, CEO of Auriens. ‘But there is nothing else in the UK that approximates to this level of luxury and service, and there is no other rental model in London. It is one of the most under-served retirement markets in the world.’ With almost a quarter of the UK population expected to be over the age of 65 by 2040, and the general trend towards downsizing, Meagher’s timing seems good. The baby boomer generation, moreover, has benefited from a growth of 4,300 per cent in house prices since 1970, and many will see Auriens as a smart method of inheritance tax planning: dispose of your assets, survive seven years, and you are protected from paying 40 per cent to HMRC.


Renting an Auriens apartment is much


like setting up home in a five-star hotel. This is apparent as soon as you step through the 1930s-style entrance into the airy, wood- panelled lobby, pause at the reception desk designed by David Linley, and gaze at the large Gerhard Richter hanging on the wall. Art is everywhere. Beyond, the lounge is all oak and marble, strewn with backgammon sets and coffee-table books.


There is work by British luxury designers throughout – from the library, with its full-height bookshelves, hand-blocked walls and oak-leaf chandeliers, to the Speakeasy bar adjoining the cinema and the Gaze Burvill garden furniture. The atmosphere is clubby, and Auriens fosters conviviality by organising events – a piano recital, a Bruce Oldfield trunk show and a Chanel jewellery exhibition are on the cards – where residents can meet and socialise.


It is not a care home, but there are 50–60 staff on hand, and a nurse is on call 24 hours a day. Residents can engage with wellness programmes, and healthy meals are provided at the Culford Restaurant, under the supervision of head chef Matt Tsistrakis (formerly at the Savoy and the


Prices for apartments at Auriens Chelsea start from £13,750 per month


SIM CANETTY-CLARKE


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