Funding / Real Estate
INVESTING Individual Investor Financial Adviser Institutional Investor FUNDING Entrepreneur Real Estate
Reading time: 3 mins

Wadswick Green case study: The future of retirement communities is here

25 Feb 2019 By Octopus Real Estate

The future of retirement communities

Nestled in the rolling Wiltshire countryside, just eight miles from Bath, Wadswick Green challenges old-fashioned ideas on retirement living. Managed by operator Rangeford, the development offers over 60’s the opportunity to buy their own designer inspired apartment.

Surrounded by fields, footpaths and ancient woodland, it is a rural idyll with very modern facilities. Concierge, chauffeur and housekeeping services alongside a swimming pool, gym, spa, salon, and restaurant enable residents to make the most of retirement. Additional care is also available as and when it’s needed – encouraging independent living for as long as possible.

Currently home to 129 residents, Wadswick Green embodies everything 21st-century retirement living should be – giving people choice, freedom and opportunities to live their best life. It represents all that we value at Octopus Healthcare and we’re proud to have helped fund this community which heralds the future for retirees.

The construction

Wadswick Green sits on the former HMS Royal Arthur training base. It currently spans 313,220 square feet and is valued at £67 million.

The 200-apartment development has been split into five phases with the first 112 units completed in 2015. The second phase recently finished in November 2018 under Rydon Construction with more work planned for later in 2019. Total completion is earmarked for 2020.

We worked closely with architects, and developers Morgan Sindall, and consulted leading over 50s services provider, Saga. The collaboration allowed us to make the most of the 25-acre site – ensuring the focus was on building accommodation and facilities that people would actively choose to live in.

We were also able to overcome an unforeseen problem with horseshoe bats that were living on-site. Purpose built bat-homes alongside ponds and newly planted woodland successfully gave them somewhere else to roost while safeguarding and enhancing the area’s biodiversity.

Functional design

Function and style are equally important at Wadswick Green and quality resonates through each apartment. Even the smallest details have been considered including moveable island units, integrated kitchen appliances and floor level walk-in showers. To reinforce the sense of independence, apartments have their own private entrances and addresses.

Safety and security are also priorities. And for peace of mind, all apartments have an integrated touchscreen system which allows people to see and hear anyone at the building entrance. The system also includes a personal alarm linked to a 24-hour response team.

Creating communities

Wadswick Green, is about community and crucially, the overall design and landscaping have been engineered to promote interaction between people.

Generously proportioned one, two or three bedroomed accommodation provides the opportunity for friends and family to visit. Large windows with views extending to the countryside or overlooking courtyards encourage residents to feel connected to their surroundings. And leisure facilities are set inside the centrally located Pavilion building with regular activities scheduled for those that want to get involved.

But it’s not just about encouraging community from the inside. Sitting within the grounds is a hair salon and award-winning restaurant, The Greenhouse – both open to the public. The development has also created more than 60 jobs for locals with the land itself open to ramblers and dog walkers – encouraging contact between residents of Wadswick Green and other nearby villages.

Enriching lives

Wadswick Green has rejuvenated what was a derelict site – coupled with its boost to local employment, the development has cemented itself as a positive addition to the wider community.

It also showcases the very best of retirement living – delivering what over 60’s actually want – desirable accommodation alongside aspirational lifestyle facilities. As Angela McKimmie, Sales and Marketing Director at Rangeford Villages comments:

“Our location in the Wiltshire countryside, in combination with our spacious modern apartments and onsite amenities and services, is a popular choice amongst buyers and the reason why our residents see Wadswick Green as a lifestyle rather than retirement village. Due to the demand, we are now launching our next phase of apartments called Almond Close.”

But none of this is possible without collaboration. And it’s up to all of us – investors, developers and operators – to work together in order to deliver long term solutions that have the potential to enrich all our lives.

Key facts

  • Final phase due for completion in 2020
  • Capital value of £67 million
  • 125-year lease
  • 313,220 square feet (excluding final phase which is subject to planning)
  • 200 contemporary, one, two, and three bedroom apartments
  • Range of high-spec leisure facilities including spa, swimming pool and gym
  • Additional amenities offered by operator Rangeford include concierge, chauffeur and housekeeping services

To find out more about how we can partner with you, call us on 0345 0404 555 or email [email protected]

Related articles

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate
12 Jul 2022

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate

Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, today announces it is making a £200m equity investment to fund the development and operation of around 10 new retirement communities across the country. The Fund, Senior Living Investment Partners, is a joint venture between PIC and leading specialist real estate lender and investor, Octopus Real Estate
Our new partnership with Homes England, Greener Homes Alliance
21 Oct 2021

Our new partnership with Homes England, Greener Homes Alliance

Octopus Real Estate have partnered with Homes England, the Government’s housing delivery agency, to create the Greener Homes Alliance. The new Alliance commits £175 million, providing both loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes throughout England.
Ground-breaking Ceremony at Brendoncare St Giles View
1 Jul 2021

Ground-breaking Ceremony at Brendoncare St Giles View

Benjamin Davis & Michael Toft from the Octopus team recently attended the ground-breaking ceremony to mark the new care home construction of Bredoncare St Giles View in Winchester. It has been custom designed by our healthcare development team for The Brendoncare Foundation who will lease and operate the new home.