Places for People enters retirement property market with £18m swoop
Published by Max Salsbury for 24dash.com in Housing and also in Communities
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Places for People (PFP) has snapped up 271 retirement properties from developer Grainger in a £18.35m deal.
And the development group has now formed a partnership with Girlings, a retirement property management company.
Girlings, which lets and manages 2,500 properties in over 500 retirement developments throughout the UK, will manage the homes in the South and South East on behalf of PFP.
Mary Parsons, Group Director, Business Development at PFP, said: "There is a huge potential growth market in the retirement sector that we are well positioned to capitalise upon.
“This market is set to grow by 55% in the next 20 years, and by using our experience and skills across the Group, we will offer people a broader mix of housing across all tenures, supported with our domiciliary care, financial, and other lifestyle products alongside Girlings’ specialist management expertise."
Peter Girling, Chairman and CEO at Girlings Retirement Rentals, said: "Our population is ageing, and by 2030 one in three people in the UK will be over 55.
"We have seen enquiries for our retirement rental properties rise by 32% over the past few years, together with a growing demand for more diverse housing and lifestyle services for older people.
"By working with Places for People we can help meet this increasing demand, as they have a strong reputation for adding value to places and providing people with a range of flexible services and products."