Green Light for Cambridge Retirement Village
Rangeford Villages has secured a site with planning to create a new Integrated Retirement Community for the over 60s in the village of Stapleford; a well-known suburb of the Greater Cambridge area. Scheduled to begin construction in spring/summer 2023 the 13 acre site will boast a selection of apartments and bungalows as well as contribute to the surrounding area with a new 47 acre countryside park.
The country park ownership expects to be transferred to the Magog Trust, with funding from Rangeford to enable the new owners to set up the park and maintain the land as a natural location that can be enjoyed by Rangeford’s residents, locals and visitors alike.
Howard Nankivell, CEO of Rangeford Villages, adds: “Just like the majority of the UK, the Cambridge area is facing a dire undersupply of modern housing solutions for the over 60s. Having reviewed the Stapleford site and the opportunity to help create a fabulous new countryside park alongside our village, we are absolutely delighted to be able to introduce Rangeford Villages’ lifestyle focussed living options to this part of the UK.”
Once completed, the village will feature an array of amenities and features. Residents will benefit from renewable energy sources to improve energy efficiency, electric car charging points, extensive wellbeing facilities, an onsite restaurant, hair and beauty salon as well as a village hall space for activities and events.
The new community will also boast an abundance of outdoor spaces including manicured gardens, a croquet lawn, a potting shed and raised beds, beehives and a woodworking workshop.
As with previous developments, Rangeford Villages has financial backing from Octopus Real Estate, part of the Octopus Group and a leading investor in healthcare facilities throughout the UK and Ireland. The established partnership between Rangeford Villages and Octopus Real Estate has already led to four integrated retirement communities across the UK: Wadswick Green in Wiltshire, Mickle Hill in North Yorkshire, Siddington Park in the Cotswolds, and the imminent construction commencement of Homewood Grove in Surrey. This village is another example of the ability Rangeford Villages has to move quickly to secure substantial development funding through Octopus Real Estate.
Kevin Beirne, director and head of retirement at Octopus Real Estate, concludes: “We are really pleased to be supporting Rangeford Villages by committing a further £70m of investment to this proven management team to deliver an exceptionally well-located independent retirement community. Providing high-quality, lifestyle-oriented retirement communities in top locations delivers both a strong investment return and impact, by freeing up local family homes to combat the housing crisis and reducing health costs by focusing on well-being in later life.”