L&G buys Halfords site for later living scheme

Legal & General has bought a retail site let to Halfords and Wickes in Uxbridge, west London, for a £130m retirement housing development. The Hillingdon site, on Harefield Road, will be developed and operated by L&G’s urban later living arm Guild Living. The sum for the site, which will be L&G’s first retirement home scheme in London, was not disclosed. Community facilities including cafes, wellness centres and children’s nurseries often feature in Guild Living schemes. The 2.3-acre site was previously owned by Watkin Jones, which had submitted plans for a 295-home, build-to-rent scheme at the location in 2018. Phil Bayliss, chief executive of later living at L&G, said: “It has never been more important to tackle social isolation and deliver housing where people really want to live, while also finding new ways to revitalise our high streets. “Having acquired four sites in less than a year, the growth trajectory of the Guild Living business is phenomenal. “This latest scheme in London is a perfect example. London is often seen as a young city, but actually has the fastest growing over-50s population. We have to be prepared to meet these changing dynamics.” Eugene Marchese, co-founder and director at Guild Living, said: “There is a clear and growing need for age-appropriate housing both in London and across the UK. “Our ambition is to create communities that are safe and secure so local people can live and maintain their local links while protecting their independence. “We want to de-stigmatise this market by providing a different kind of product that uses academic research to tailor its wellbeing and care offering.” Guild Living additionally has schemes under way in Epsom, Walton-on-Thames and Bath, with further developments planned.   To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette