Capreon is pleased to announce that it has exchanged on the acquisition of a 92-unit retirement community development in Alton, Hampshire

Capreon is pleased to announce that it has exchanged on the acquisition of a 92-unit retirement community development in Alton, Hampshire. Capreon’s investors have contracted to acquire a two-acre site, subject to gaining the satisfactory planning permission. The site is part of a wider redevelopment being undertaken by Cala Homes, on a former Coors brewery site, and is expected to dramatically enhance the local area. The development will offer high quality accommodation for sale to “downsizers” in the local community, who wish to be part of a new social fabric whilst remaining close to the place that they have always called home.

This is the second exchange secured within this strategy, subject to planning permission with retirement community operator and developer, Revere Life.

George Minns, Managing Director commented:

We are firm believers in the seniors housing sector in the UK, where demand is strong and investors have suffered from the market’s barriers to entry.

We are delighted to have worked with Revere Life in securing what will be a premium retirement community offering, a minute from Alton High Street.

About Revere Life: Revere Life has been established to develop and operate retirement villages targeted to meet the aspirations and needs of those in later retirement. Owners will buy long leases and enjoy a wide range of onsite hospitality and care services at affordable prices in return for a deferred fee. The Revere Life team has a deep understanding of and track record in this market, led by chief executive Adrian Prest and chairman Nigel Sibley. For further information, please visit: https://revere-life.com/