Untold Living, a new later living developer, has received backing from Matter Real Estate to acquire and develop multiple schemes.
With the backing from investment firm Matter Real Estate, Untold Living has acquired Chantry Court in Westbury, Wiltshire, as its first site.
The 64-unit retirement village will undergo refurbishment to enhance its existing amenities, including a restaurant with sun terrace, bar, lounges, library, hair salon, and cinema.
Untold Living has also secured two sites in Crawley, West Sussex, and Newport, Shropshire, to deliver two brand-new later living schemes. Each is set to deliver between 100 and 120 units, comprising both apartments and bungalows.
The schemes will offer a range of one, two and three-bedroom units to buy, rent, and own through shared ownership.
Untold Living chief executive Russell Jewell said: “With Britain’s later living sector primed for rapid growth over the coming years, the investment case for high-quality, purpose-built retirement housing with care is a strong one. However, it must be underpinned by a commitment to delivering the same quality of schemes and amenities that has enabled the sector to thrive for many years in Australia, New Zealand, and the US.
“We are delighted, then, to receive the backing of Matter Real Estate – an investor which shares our vision for what the future of later living looks like in the UK.
“Our unique mid-market offering will open up retirement living to an even greater number of older elderly (typically 75+) who are considering downsizing into more age-appropriate accommodation with care.
“This will enable retirees to live more independent lives, combatting chronic issues affecting older people, especially loneliness, isolation and loss of a sense of purpose – which have been linked to cognitive and physical decline.
“A greater number of independent later living schemes will help alleviate the acute pressure on local health and social services while also tackling Britain’s housing crisis, freeing up larger homes with numerous spare bedrooms for first-time buyers and growing families.”
Matter Real Estate CEO David Christie added: “We’re delighted to be backing the Untold Living team as they continue scaling up their platform providing high-quality housing solutions within the UK’s senior living sector.
“Through our partnership with Untold Living, we will be deploying capital that will help to address the ever-intensifying senior living housing crisis in the UK, partly alleviating a shortfall of more than 487,000 recorded senior living housing units required.”