Retirement properties are built specifically for older people and residents must usually be over 55 or 60 years of age.
Most retirement properties are sold on a leasehold basis and the owner pays a ground rent to the freeholder each year. Each development has a management company which looks after the maintenance and cleaning of the building and communal areas, as well of taking care of residents' needs and even organising social activities. A service charge is applied to cover the cost of cleaning and maintenance.
There are many retirement housebuilders, but the largest are McCarthy and Stone, Churchill and Renaissance, who have developments throughout the UK. There are 2 types of retirement property – Retirement Living and Retirement Living with extra support for the over 70s (often called Assisted Living or Retirement Living Plus).
In addition to your own private apartment, all developments offer a great sense of community with a homeowners’ lounge where residents can meet and enjoy some of the social activities on offer. They either have a House Manager or onsite Concierge who ensure everything runs smoothly day to day and are a point of contact for residents should they need anything. Family members are welcome to visit and stay in the guest suite - a small fee is applied to cover the housekeeping costs.
With Retirement Living Plus, which are specific to McCarthy and Stone developments, residents benefit from additional facilities such as a table service restaurant and a member of staff onsite 24 hours a day. These properties also offer additional care packages if required along with an hours’ domestic assistance per week.
You can view our full list of retirement apartments for sale to find one that’s right for you here, or you can call the team on: 0800 080 3303 for a chat.