Later living accommodation in Kent bought by Legal & General
Inspired Villages Group, an operator and developer of later living accommodation established by Legal & General in August 2017, have announced the acquisition of Ledian Farm, Leeds Village in Kent.
The seven acre site, which comes with a detailed planning consent for a retirement village, is expected to have a Gross Development Value of in excess of £50 million and provide over 115 homes when built.
Located close to Leeds Castle, it has an attractive setting on the edge of Leeds village, offering an idyllic country outlook within an existing village community.
It is set to generate strong local employment opportunities, both during the construction phase and once fully occupied – with each Inspired Village creating substantial service-led roles.
In keeping with the IVG model, it will offer a selection of luxury cottages and apartments centred around a prestigious clubhouse – providing a focus on wellness with plenty of opportunities for maintaining an active lifestyle, socialising and relaxing.
The acquisition of Ledian Farm further expands IVG’s national footprint, which is currently arranged over six village schemes, located in Warwickshire, Cheshire, West Sussex, Devon and Hampshire, as it looks to satisfy the growing demand for well-designed later living communities.
Phil Bayliss, Head of Later Living at Legal & General Capital, said: “Combined with the best in class management team at IVG, Legal & General’s long-term investment in this sector will bring the necessary scale of supply to what is currently the most underserved sector of the housing market.
“The acquisition of Renaissance Villages in November 2017 and Ledian Farm in quick succession is testament to our aggressive growth objectives for the Later Living business.
“With an ageing population and an underprepared market to support it, Legal & General’s long-term investment in the sector can deliver significant housing, health and wellbeing benefits for those in later life, as well as a reduction in NHS costs and GP visits.”