The UK’s market leader in retirement living, McCarthy & Stone, has this month announced the company’s purchase of the Cowick Street site in Exeter and its plans to build a Retirement Living development exclusively for the over-60s.
The site is located south west of Exeter city centre in the popular suburb of St Thomas and backs onto St. Thomas Park. The developer completed the purchase last month and construction is due to commence in spring 2011. The land has planning consent for 41 one and two bedroom retirement apartments.
Shane Paull, land director for McCarthy & Stone South West, comments: “The purchase of such a prominent site is incredibly positive. There is a significant shortage of specialised retirement accommodation in the UK. In 2004, we estimated that there would be a shortfall of 62,500 properties by 2020, but with the recent downturn in the housing market and the knock on effect on housing production, the situation is potentially now much worse so we’re delighted to be returning to the land buying market.”
McCarthy & Stone’s Retirement Living schemes offer independence combined with the peace of mind of additional security, low maintenance and companionship. Designed especially for retirement living, the apartments incorporate features such as 24 hour emergency call points, electrical sockets at a raised height to reduce bending, illuminated light switches, a video entry system, easy grip lever taps in the bathroom and kitchen and energy efficient heating.
Residents also benefit from landscaped and maintained gardens, a communal lounge and a guest suite for visiting friends and family.
See Also: Property News (6711), McCarthy and Stone (109), Cowick Street (1), Exeter (33), South West (15)
Date Published: 06 May 2010
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