Octopus and PIC are involved in a JV with Audley Group

Octopus and PIC to develop four retirement communities



Octopus Real Estate and Pension Insurance Corporation (PIC) have launched a multi-site JV with Audley Group to develop four new retirement communities.


Octopus and PIC previously began a £200m partnership named the Senior Living Investment Partners (SLIP), which aims to house up to 2,000 people in the coming years across 10 integrated retirement communities (IRCs), and deliver around £1bn in GDV into the sector.

The new ICRs being developed by the JV will create 600 retirement units across four new villages with the first being located in Headley Court, Surrey.

The Audley Village at Headley Court will consist of 112 apartments and will safeguard the future of the Grade II-listed historic mansion house, while restoring the extensive landscaped grounds which will be made available for the local community.

It will also include a health and wellbeing club for those in the local area aged 55 and above, as well as a restaurant.

Other villages to be developed by the JV will include both Audley and Mayfield sites, which are designed to bring retirement living to a much wider audience, and give more people further choices over how and where they live.

Nick Sanderson, founder and CEO at Audley Group, said: “The demand for retirement villages is only growing; Octopus Real Estate and PIC have recognised the opportunity in the retirement space and it’s wonderful to see a new JV with dedicated capital to grow the sector.

“We have been working with JV partners for some time, allowing us to execute the model in a less capital-intensive manner, which in turn means we can accelerate the delivery of these much-needed villages.”

Kevin Beirne, head of retirement at Octopus Real Estate, added: “We are delighted to build on our relationship with Audley Group in creating this new JV vehicle to develop a very exciting pipeline of IRCs.

“The proposition goes far beyond just high-quality real estate; IRCs provide an investment opportunity to deliver strong and sustainable returns while delivering unique impact though improved lifestyle and well-being for our ageing population.”



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