Older people worried by the prospect of downsizing can be reassured their equity will be protected for the future, thanks to the properties on sale in Titchfield’s newest retirement village, Friary Meadow.
The Hampshire development, named in reference to the nearby Abbey and the likely historic use of the fields around it, has taken another major step towards completion as developers release the much-anticipated prices for its luxury accommodation.
Friary Meadow will offer a selection of 86 luxury homes, comprising of apartments that start from £375,000, bungalows from £485,000 and townhouses from £595,000. Car parking spaces are available for just £250 per year and residents won’t be charged ground rent.
It is based on the ‘extra-care’ living model, as recommended by the Department of Health, which aims to giving older people the opportunity to retain their independence for longer, including their financial independence by enabling residents to own their own properties, thereby protecting their equity.
Dr. Stephen Ladyman, founder of Oak Retirement and a former Minister of Health responsible for Social Care, said: “I’m delighted to announce the prices for accommodation at Friary Meadow and believe they really reflect the high-quality living on offer.
“This is a really exciting time as we move one step further to finishing this luxury development and open its doors to residents, who will be able to enjoy the many benefits of an independent, worry-free retirement.”
The £35m development is a joint project between independent retirement living specialist, Oak Retirement, and real estate fund manager, Frogmore.
Construction was launched in June last year, during an official ground-breaking ceremony attended by Mayor of Fareham, Councillor Geoff Fazackarley and the Mayoress Mrs Tina Fazackarley.
Friary Meadow is due to be completed in November 2018.
For more information about Oak Retirement, visit www.oakretirement.co.uk.