Chefs who've worked at Michelin-star restaurants, a private chauffeur, pool, gym and cinema. You would think this describes the staff and amenities at a posh hotel, but they're all offered at a nursing home in London that also features heated floors, WiFi and special sensors to alert staff if a resident falls. Battersea Place, London’s first “luxury lifestyle retirement community," opens to residents this month and it is no ordinary old folks home. The new development is a collection of 109 one-, two- and three-bedroom private apartments ranging in price from £535,000 to £2.4 million for a penthouse, and available only to those aged 65 and over.
MORE: Real Estate Buyers Must Tread Carefully in London’s New-Build Market Taking inspiration from the luxury hospitality industry, the development has what its marketing refers to as “five star” facilities with communal areas such as a library, coffee shop, beauty salon and courtyard garden. Residents will be encouraged to get out and about and socialize with community activities such as wine tastings and a carpool service. There is also a 24-hour emergency call system, and tailored packages available for domestic, personal and health care. Set on Albert Bridge Road, a short stroll to well-heeled Chelsea, the apartments overlook 200-acre Battersea Park. The care packages can be personalized to each resident, and can be altered if health requirements change. The care team can help with anything needed such as getting in and out of bed, showering, ironing, cleaning and help taking medication. The nursing facility, which is called Albert Suites, offers short-term convalescence and post-operative care as well as long-term nursing and palliative care. There are other health and care services too, such as massage, reflexology and 24-hour room service. The development is offered by LifeCare Residences, an international retirement village operator with communities in New Zealand as well as elsewhere in the U.K., but this is the first luxury apartment block that comes with specialized care for the elderly in London.
MORE: Why 25% of Canada’s Luxury Homes Are Bought by Foreigners While high-end developments aimed at wealthy retirees are common in the U.S. or Australasia, they are yet to take off in a big way in Britain. Richard Davies, CEO of LifeCare Residences, says he hopes to create a new benchmark for retirement living, “marrying together high quality London homes with extensive facilities and discreet hands-on care including an on-site nursing wing called the Albert suites.” He adds: “Luxury retirement communities are a new phenomenon for the U.K., but their popularity is evident in the buyer demand that we have received. Gone are the days when it’s enough to provide the bare minimum in the way of facilities for the retirement demographic.” The apartments were released off-plan in 2011, and it was reported in 2013 that 70% had already sold. There are just 25 still available to buy.
MORE: The World’s Hottest Luxury Housing Market Is Auckland The supply of retirement housing needs to increase five-fold to accommodate the U.K.’s rapidly ageing population, research by real estate agent Knight Frank found. There are 2.5 million households currently aged 55 or over and likely to move into specialist accommodations as they age. Over the next 20 years the proportion of the U.K. population aged over 60 will increase from 23% to 29%. About three-quarters of those who have bought already live in the local area in Battersea, Wandsworth, Kensington and Chelsea, including the ex-mayor of Kensington and Chelsea, Christopher Buckmaster. There are also international buyers migrating for their retirement, including couples from France and Australia. Those who buy a two-bedroom or penthouse property pay a monthly service charge of £1,160. Residents also have to pay a deferred membership fee when apartments are sold, of a minimum of 10% and up to 30%.
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