Retirement
Our health and social care team provides legal and strategic advice on development, investment, operational structures and regulatory issues. We advise investors, developers, operators and public sector bodies across the retirement living, extra care and retirement village sectors.
Currently less than 1% of older people in the UK live in a retirement village, allowing them to maintain their independence whilst being a part of a larger community, with access to customised, adaptable care on site if it is needed at any point in the future. Compared with other international markets with similar age demographics, wealth distribution and attitudes to home ownership the UK market is in its infancy. Demand in the UK for retirement villages and specialist senior living housing with care is rising as the market adapts to meet the needs of generations who are living longer, with greater expectations for quality of life. As older people see the benefits of this kind of specialist accommodation and it becomes more mainstream we see a potential chain reaction catalysing its popularity.
We are a longstanding corporate support partner of ARCO (the Associated Retirement Community Operators), a trade body representing more than half of retirement housing with care communities in England and whose goal is to raise awareness of and confidence in, as well as to grow, the retirement community model. We have a detailed understanding of the key legal and operational issues facing that sector. We were heavily involved in the Law Commission's review of the "event fees" model and have advised numerous clients on different approaches to these and many other key aspects of structuring the legal documentation underpinning their operations.
We have a commitment to provide legal services that underpin sustainable and liveable retirement communities. We guide investors, developers, operators and public authorities through the latest delivery models and structures to deliver successful developments with sustainable returns and improved services.
In brief
- Sector leaders in advising on the retirement housing with care model and the legal and regulatory drivers it faces
- Advise for and not for profit providers, investors, developers, funders
- Significant experience in the development of new facilities of any size or tenure mix
- We cover the full range of corporate and operational issues faced by investors and providers of all kinds, whether linked to development of new businesses/services or managing existing services
Related Sectors
Knowledge Hub
Latest in Retirement
Insights
What the Thursday Murder Club teaches us about retirement living
The UK stands at the threshold of a demographic revolution. According to the Centre for Ageing Better, the number of people aged 65-79 is predicted to increase by nearly a third (30%) to over 10 million in the next 40 years, while those aged 80 and over will more than double to over 6 million. The Resolution Foundation reports that the over-60s now hold 53% of Britain's property wealth, 59% of financial wealth, and 45% of pension wealth.
News
Trowers advises on sale of Residential Secure Income's senior living portfolio for £108 million
Trowers & Hamlins has advised Residential Secure Income (ReSI) on the sale of its independent retirement rental portfolio to Living REIT for £108 million.
Podcasts
Trowers talks podcast: Retirement communities - the operator's view on service delivery and growth.
Trowers talks podcast: Retirement communities - the operator's view on service delivery and growth.