L&G approved for retirement community at former Kingswood HQ
Legal & General has been given the green light to develop a luxury retirement community on the site of its former head office in Kingswood, Surrey.
Reigate and Banstead Borough Council approved the plans on 15 April, during an online planning committee via video conferencing.
The £215m development will be one of the largest retirement schemes in the country by value and will span 43 acres.
Legal & General has been given the green light to develop a luxury retirement community on the site of its former head office in Kingswood, Surrey.
Reigate and Banstead Borough Council approved the plans on 15 April, during an online planning committee via video conferencing.
The £215m development will be one of the largest retirement schemes in the country by value and will span 43 acres.
It will be the eleventh scheme for L&G’s later-living business Inspired Villages, adding to its portfolio of more than 1,000 homes.
The Kingswood site will comprise 270 specialist apartments, a wellness centre, a swimming pool, studio, gym, tennis courts and dining facilities, as well as retention of the Grade II listed building.
L&G has spent 15 months designing the scheme and consulting with stakeholders. It presented plans to the local residents association last year.
Works are due to commence later this year and are expected to take 6.5 years.
Phil Bayliss, chief executive of Later Living at Legal & General, said: “Covid19 is already putting the care sector under extreme pressure, but by investing through and beyond the immediate crisis we believe that we can help to address the issue of future demand on the system – helping people to live in good health for longer.
“Investing in key alternative sectors where there has been a shortage of investment and innovation, and that have a wider social and economic purpose, this is an excellent match for our patient capital.”
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