Wednesday, September 22, 2021
UK

Swindon retirement living complex to support local economy

complex in Swindon

It is estimated that occupiers will generate £550,000 of spending per year, with £347,000 going to shops on the high street, which will in turn help to support retail jobs

A new retirement living complex in Swindon will soon put its apartments up for sale. McCarthy Stone hopes the Gilbert Place site on Lowry Way will have a positive impact on the town’s economy. The developer mentioned a new report by Homes for Later Living which claims that retirement housing creates more local economic value and local jobs than any other type of residential development.

It is estimated that those living in a typical retirement development will generate £550,000 of spending per year, with £347,000 going to shops on the high street, which will in turn help to support retail jobs and keep amenities open.

Verity McKay from McCarthy Stone Southern said: The past 18 months has been difficult for everyone, but the high street has been particularly affected by the pandemic.

The forthcoming development is set to provide welcome relief for the Swindon area, as it has been reported that people living in retirement housing are more likely to spend money locally than people of the same age living elsewhere, McKay said. This will directly contribute to helping keep shops and services open in Swindon – from the butchers to the local café – that often make up the heart of our communities.

We’re proud to bring the new Gilbert Place development to Swindon, helping to harness the spending power of older people for local high streets as part of a post-Covid recovery plan, McKay said.

The properties will be released for off-plan sales on September 21.

An on-site estate manager and an experienced team will be available to oversee the development, and to provide support packages to suit individual needs.

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