9 May 2019
Legal & General launches Guild Living, bringing retirement communities to UK city centres
Legal & General announces the expansion of its later living offering with the establishment of Guild Living a developer and operator of urban later living communities. Through Guild Living, it plans to deliver over 3,000 new homes over the next five years, equating to a Gross Development Value of around £2 billion.
Responding to increased urbanisation and the changing requirements of the UK’s over 65s, Guild Living – which is a partnership between Legal & General and a team of global experts in design, development and wellness – will deliver a new class of urban retirement community across the UK’s towns and cities. Set in vibrant urban environments, Guild Living will combine beautiful architecture and interiors with ground breaking and academically-accredited wellness programmes to enable and enrich an independent, active later life.
Staying active in later life is more than physical fitness; it is about social and mental activation too. Described by medical professionals as a “silent epidemic”, loneliness has profound medical implications. More than 2 million people in England over the age of 75 live alone and more than a million older people say they go for a month without speaking to a friend, neighbour or family member. Although cities are full of people, social isolation is prolific. Retirement communities with extra care, such as those being designed by Guild Living, have the potential to significantly reduce social isolation.
Read the full press release via the link below
With over three million over 60s in UK seeking to downsize their homes, we see a £100 billion investment opportunity. 84% 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 amenities they have to offer as well as to be closer to their loved ones and transport links.
Phil Bayliss, CEO of Later Living at Legal & General and Chairman at Guild Living