AXA IM Real Assets-owned Retirement Villages Group is buying a 1.5-acre site in the heart of Tunbridge Wells, Kent, for a £100m retirement development.
The group plans to turn the former ABC Cinema on Mount Pleasant Road and Church Road into a 150- to 180-flat retirement home scheme, with a café, restaurant, several shops and a wellness facility – all available for public as well as resident use.
As part of its commitment to reducing its impact on the environment, Retirement Villages Group said the scheme would be delivered as “whole-life net-zero carbon”, which accounts not only for carbon created in the operation of the building but also carbon generated during the construction process.
Chief executive Will Bax said: “We are excited to create a community that delivers on our vision for the future of retirement living – integrated, active and sustainable. We are eager to find more sites like this as we push towards our goal of developing a further 5,000 homes by 2030.
“This project also reinforces our commitment to minimising our impact on the planet as a net-zero-carbon developer and operator. We are determined to drive greater collaboration and seek new partnerships as we all respond to the challenge of the climate emergency.”
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