A merger between two corporations, Audley Group and Elysian Residences has created an organization that’s now the biggest retirement village supplier within the U.Ok.
The newly mixed firm is slated to span 30 villages, each at present open and within the pipeline, accounting for about 3,000 particular person properties. The merger brings collectively three retirement villages manufacturers Elysian, Audley Villages and a middle-market senior dwelling model known as Mayfield Villages.
The scope of the brand new mixed group creates a mixed gross sales worth of over £3 billion, which at at the moment’s alternate fee interprets to about $3.87 billion. Care House Skilled first reported the information Tuesday.
The three village manufacturers will now sit below a brand new company entity led by Gavin Stein as CEO, Nick Sanderson as chair.Stein is below the deal remaining on as CEO of Elysian Residences and Sanderson is remaining as CEO of the Audley and Mayfield manufacturers.
A spokesperson for each Audley and Elysian mentioned that within the U.Ok., the senior dwelling sector “wants scale” as demographic shifts deliver extra demand to U.Ok.-based senior dwelling suppliers whereas the Nationwide Well being Service (NHS) and social care methods “are below rising strain.”
“Combining the experience and heritage of Audley Group and Elysian Residences brings collectively sector leaders to speed up improvement and maximise alternatives,” the spokesperson advised SHN on Tuesday. “That is essential for the entire sector. It’s nonetheless small, and we have to be working collectively to create the models that the market wants. Having scale within the sector attracts funding, and what advantages Audley and Elysian, will profit others within the sector.”
All wanted regulatory approvals have been secured and the merger settlement has been signed.
Within the U.Ok., retirement villages provide older adults a spread of property sorts and housing which might be particularly designed for these 55 or older. Each Elysian Residences and Audley are Built-in Retirement Communities (IRCs), an idea the place residents can entry care and help of their properties, scaled to required wants and care employees can be found 24-hours a day.
In comparison with the U.S. persevering with care retirement neighborhood mannequin which regularly ends with rehabilitation and expert nursing or hospice, IRCs present look after residents of their properties “via a regulated service,” a spokesperson defined to SHN.
Audley Group and Elysian are each based mostly within the U.Ok., however the nation is heating up for funding from U.S.-based corporations trying to develop overseas.
The retirement housing market within the UK is going through a significant provide hole much like what’s occurring within the U.S. U.Ok. residents 65 and older now maintain £2.6 trillion in housing wealth, but solely 30,000 retirement properties are being constructed yearly, properly beneath the 50,000 wanted. In 2024, £1.25 billion in new funding flooded into the sector, in keeping with the most recent Knight Frank U.Ok. Seniors Housing Market Replace revealed in June.
