Green light for Cambridge Retirement Village
Rangeford Villages secured a site with planning to create a new integrated retirement community for the over 60s in the village of Stapleford; a well-known suburb of the Greater Cambridge area. Scheduled to begin construction in Spring/Summer 2023, the 13-acre site will offer a selection of apartments and bungalows and contribute to the surrounding area with a new 47-acre country park.
Ownership of the nature park is set to transfer to the Magog Trust, with funding from Rangeford to enable the new owners to develop the park and maintain the land as a natural place that can be enjoyed by residents, locals and visitors alike. Rangeford.
Howard Nankivell, CEO of Rangeford Villages, adds: “Like much of the UK, the Cambridge area faces a severe shortage of modern housing solutions for the over 60s. Having considered the Stapleford site and the opportunity to help create a fabulous new country park next to our village, we are absolutely delighted to be able to showcase the lifestyle-focused living options of Rangeford Villages in this part of the UK.
When complete, the village will feature a range of amenities and features. Residents will benefit from renewable energy sources to improve energy efficiency, electric car charging stations, extensive wellness facilities, an on-site restaurant, hair and beauty salon as well as a party room space for activities and events.
The new community will also boast an abundance of outdoor space, including manicured gardens, a croquet lawn, a cabana and raised beds, beehives and a carpentry workshop.
As with previous developments, Rangeford Villages has the financial support of Octopus Real Estate, part of the Octopus Group and a leading investor in healthcare facilities in the UK and Ireland. The partnership established between Rangeford Villages and Octopus Immovable has already led to four integrated retirement communities across the UK: Wadswick Green in Wiltshire, Mickle Hill in North Yorkshire, Siddington Park in the Cotswolds and the imminent start of construction at Homewood Grove in Surrey. This village is another example of Rangeford Villages’ ability to move quickly to secure substantial development funding through Octopus Immovable.
Kevin Beirne, director and head of retirement at Octopus Real Estate, concludes: “We are truly delighted to support Rangeford Villages by committing an additional £70 million investment in this proven management team to deliver an exceptionally well-located independent retirement community. Providing high-quality, lifestyle-focused retirement communities in the best locations delivers both strong return on investment and impact, freeing up local family homes to tackle the housing crisis and lowering costs. health with a focus on wellness later in life.