He will be replaced by chief property officer Tim Seddon, who has worked alongside Will as an executive director at the firm since March 2020.

Tim assumes the role with immediate effect but Will is planning to stay on as business counsel until early September to support a smooth transition.

Will joined the group in 2019 with a mandate to modernise the company and has led a strategy to develop the ‘Thrive Living’ collection of urban and sustainable retirement communities.

The first of these is due to open in Chester at the end of 2024, with similar sites opening in West Byfleet and Tunbridge Wells next year.

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Ian Chappell, chairman at Retirement Villages Group, called this a “natural transition”.

“Tim Seddon is well placed to take the business forward given his understanding of our resident communities and the dynamics of the sector,” he added.

“He has also been at the forefront of our strategy to develop the Thriving Living collection of modern urban and peri-urban villages. We wish Will every success and welcome Tim as our new CEO. I look forward to working with him as we embark upon RVG’s next chapter of growth.”

Prior to joining the group, Tim held senior director roles at St. Modwen and Landsec.