Torquay luxury development to be transformed into affordable homes
Convivia, has confirmed its site in Torquay, Devon, is being developed into luxury, affordable homes to benefit members of the local community. This will help mitigate the ongoing pressure to provide homes for low-income tenants in the UK.
Located within walking distance of Torquay’s main marina, ‘Halcyon’ comprises of 42 generously sized one- and two-bedroom apartments, finished to a high specification, in line with Convivia’s ‘Mayfair design’ standard.
The site was originally set to be developed into a luxury aparthotel. However, in recognising the growing demand for affordable homes across the UK, Convivia confirmed plans to shift 100% of its focus to the public sector in July 2021, and secured an equity investment deal worth hundreds of millions to execute its strategy.
As a result, the Group is now in the process of developing out four sites in strategic locations across the UK, with additional acquisitions in the pipeline.
Now in the final stages of development, Halcyon will open its doors to residents by early 2023, offering members of the local community luxury, affordable homes, underpinned by cutting-edge technology and life-changing communal facilities to enhance personal development and physical well-being.
Roy Ledgister, CEO of Convivia, confirmed: “In pivoting 100% of our focus to the public sector, we felt it was only right to transform Halcyon into affordable homes, but this doesn’t mean the finish of the building will be compromised. Like all other Convivia sites, Halcyon will benefit from our unique procurement model and proven design methodology, which means it will represent our ‘gold standard’ and deliver luxury accommodation for all tenants.”
Working closely with Local Authorities, Convivia is committed to ensuring its homes become synonymous with positive change.
In early May 2022, Convivia announced Sir Stephen Hillier as Non-Executive Chair of its Board.