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For-profit Preferred Homes reveals plans for 154 extra-care homes
For-profit registered provider Preferred Homes has revealed plans for 154 extra-care homes in the South of England.
For-profit registered provider Preferred Homes has revealed plans for 154 extra-care homes in the South of England #UKhousingAlongside plans at two recently acquired sites in Crawley and Exeter, the extra-care specialist has also secured planning approval for 82 homes in Bicester, Oxfordshire and 74 homes in Camborne, Cornwall.
In Crawley, Preferred Homes has acquired the former St Catherine’s Hospice site and has recently submitted a planning application for 83 affordable flats.
The flats will be allocated through a nomination agreement with the local adult social care commissioning authority.
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The site will also be the for-profit’s first development for residents of all ages with care needs.
In Exeter, Preferred Homes has exchanged contracts to acquire a former leisure centre site owned by Exeter City Council.
Preparations are underway to submit a planning application for 71 extra-care homes, which will help to satisfy the requirement for much-needed supported housing within the city, the for-profit said.
The site on the outskirts of Bicester town centre, at Kingsmere, is currently undergoing regeneration to provide new homes, schools and recreational areas for the local community.
In Camborne, the for-profit has secured planning permission for 74 extra-care housing flats. The site forms part of the former Cornwall Council offices and car park on Dolcoath Avenue.
It has worked with Cornwall Council through the pre-application stage, with the council set to commit to a 25-year nomination agreement at the scheme.
The acquisition also marks Preferred Homes’ first site in the South West of England.
Preferred Homes became a for-profit registered provider in 2020. It is backed by an £100m equity commitment from Teachers Insurance Annuity Association, the US teachers’ pension fund.
It is investing £100m in affordable rent homes for older people, with a long-term ambition to invest £1bn. Preferred Homes plans to provide up to 50 developments over the next seven years, focusing on areas across England with the greatest need for affordable housing and care provision. In the South of England, the for-profit plans to provide over 300 homes.
It already has two open schemes in Leeds and Telford, with its third scheme in Hucknall, Nottingham, set to open this year.
Its schemes all feature shared facilities including community cafes, smart home and assistive technologies, communal gardens and car parking. They also achieve the design principles of the Housing our Ageing Population: Panel for Innovation (HAPPI).
Findlay MacAlpine, chief executive of Preferred Homes, said: “Our developments are meeting a critical need for suitable housing and effective care for our ageing population.
“It’s great to see local authorities recognising this and a wider awareness building around the importance of affordable extra-care housing for rent.
“We’re now operating nationally and working closely with councils to identify areas where extra-care housing can make the biggest impact.”
Last year, Inside Housing Living interviewed Mr MacAlpine about Preferred Homes’ growth plans and US backers.
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