Schroders Capital, Octopus JV acquires retirement village

The U.K. Retirement Living Fund, managed by Schroders Capital and advised by Octopus Real Estate, has acquired a large site in the center of Royal Tunbridge Wells, a town in Kent, England, in a joint venture with Elysian Residences.

The site has planning permission to develop a new, purpose-built retirement village incorporating 89 luxury apartments, penthouses and hotel-style facilities with a GDV of £55 million (€64 million/$76 million).

Fronting onto St John’s Road and Woodbury Park Road, a short stroll from Royal Tunbridge Wells town center, the new urban retirement village will comprise three luxury apartment buildings, complete with a lounge/library, restaurant/bar, function room, guest suite, gymnasium and treatment rooms, with homeowners able to access 24-hour care if required. Designed to create a thriving community, the new development will reflect a contemporary style, with the apartments having floor-to-ceiling windows and covered balconies, along with