No compromise for baby boomers who downsize
As Britain’s baby boomer generation reaches retirement age, an increasing number of people in the UK are looking to downsize their home, a trend that is set to continue over the next few years. Whether their decision is based on freeing up capital or achieving a more manageable lifestyle, many people consider the need for a smaller property to be a key factor in moving house. Thanks to a new wave of high quality age-exclusive developments such as Viridian’s Parkside in Cheam Village and The Liberty in Royal Arsenal, downsizers have more choice than ever and don’t need to compromise on style and amenities.
More than half of homeowners aged 70 to 79 cited the need for a smaller home at the key reason that they planned to move house in the next five years, according to Strutt & Parker’s recent Housing Futures survey. Similarly 39% of homeowners between 60 and 69 were thinking about downsizing and 22% of 50 to 59 year olds. With over two million downsizers coming under the over 55s baby boomer category according to Prudential, that accounts for a significant sector of the residential property market.
Felicity Gentle, Development Sales and Marketing Manager of Viridian Housing comments: “The so called baby boomers are often equity rich and many are looking to free up funds by downsizing their property so that they can help out their grown up children and have the cash to enjoy their retirement years. People in this situation are recognising the benefits of moving to development specifically catering for people at their stage of life. In addition to fantastic and secure new build homes, Parkside and The Liberty offer a wide range of communal facilities within an attractive environment to make sure there is plenty on offer to appeal to those who are still young at heart.”
Situated within a leafy conservation area at the centre of historic Cheam Village in Surrey, Parkside offers a range of fabulous new apartments exclusively for residents aged 55 and over. The collection of one and two bedroom apartments is available through private sale and shared ownership and has proved highly popular to date. Set across four buildings, the traditional style architecture reflects timber framed period properties in the village. Residents benefit from a communal lounge, conservatory and beautiful landscaped gardens in which to relax and make new friends.
The Liberty is a contemporary building set within the prestigious Royal Arsenal Riverside development offering a range of unique two bedroom apartments for senior living through market sale or shared ownership. All residents have access to a wide range of dedicated amenities that give peace of mind as well as help promote community spirit including a concierge service, , cafe bar, hair salon, internet area, spa bath, and residents’ library.
All apartments at both Parkside and The Liberty are carefully designed to make the most of space and light and finished with a high quality interior specification including contemporary fitted kitchens, elegant bathrooms suites and hard-wearing carpets. There is a strong emphasis throughout on energy efficiency and accessibility for wheelchair users to make sure that homes are accessible in the long term for their residents. Most of the apartments benefit from private outdoor space in the form of private balcony or patio area.
While apartments are spacious and flexible, for those who want extra space to accommodate visiting relatives, both Parkside and The Liberty offer hotel style guest rooms that are available to book for a night or two. And both developments are ideally placed to enjoy the open spaces of their surroundings, as well as shops, buses and railway connections within easy walking distance.
Prices at Parkside in Cheam Village start at £198,000 for a one bedroom apartment and from £270,000 for a two bedroom apartment. Some apartments are available through shared ownership where purchasers buy at least a 60% share in the property. For more information, visit parksidecheam.co.uk. Further information on The Liberty is available at thelibertyapartments.co.uk.
