Legal & General’s Inspired Villages Group has bought Ledian Farm in Leeds, Kent, for its next later living site.
The 7-acre site has detailed consent for a retirement village and is expected to have a final value in excess of £50m for its 115 homes.
The acquisition is the seventh for IVG, currently arranged over six village schemes, in Warwickshire, Cheshire, West Sussex, Devon and Hampshire.
It will increase IVG’s portfolio to more than 1,100 apartments. It intends to grow to around 3,500.
Phil Bayliss, head of later living at L&G Capital, said: “With an ageing population and an underprepared market to support it, Legal & General’s long-term investment in the sector can deliver significant housing, health and wellbeing benefits for those in later life, as well as a reduction in NHS costs and GP visits.”
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