NHBC, a warranty and insurance provider for new build homes, has struck a new partnership with Associated Retirement Community Operators (ARCO) to support the growing demand in the retirement living sector.
Estimates are now showing that 75,000 people currently live in retirement communities, with this number expected to double in the next 30 years. Retirement communities give older people the chance to live independently, as well as having the provision of 24/7 onsite staff, and Care Quality Commission (CQC) registered domiciliary care if needed.
The retirement community sector has also set a target to provide housing for 250,000 older people by 2030. ARCO was formed in 2012 and is the main body which represents the retirement community sector in the UK.
Talking about the new arrangement, NHBC’s Retirement Living Sector Lead Matt Scarrott, said: “The demand for purpose built, high-quality housing options for older people with tailored support services is predicted to grow substantially and will play an increasingly important role in the UK housing market.
“As a result, we have developed a dedicated construction assurance process and product for the retirement living sector, which we are confident will be attractive to investors, operators and developers who want to de-risk homes, provide long-term asset protection and reassure their customers.
“This process enables our specialist team to work with clients as early as pre-land acquisition and throughout the design and construction process to help deliver homes of the highest quality. As a result, the risks to each project, to the quality of construction and to long-term asset are mitigated.”
Michael Voges, Executive Director, ARCO, added: “It is fantastic news to announce our partnership with NHBC. There is a close alignment between NHBC’s commitment to quality and ARCO’s aim to promote confidence, raise awareness of the retirement community model and increase the volume and quality of expertise within the sector. It is a partnership we welcome as we look to grow the retirement community sector in the UK.”
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