Senior Living team completes £1bn of transactions in 2019

Posted by Knight Frank Newcastle on 3rd September 2019 -

The Knight Frank senior living team has advised on four landmark transactions in 2019, totalling in excess of £1bn gross development value (GDV)

These recent deals include acquiring three town centre retail sites and a former hospital for Legal & General’s Guild Living platform, plus an acquisition at Royal Warwick Square in Kensington for Goldman Sachs’ Riverstone Living platform. 

Headed up by Tom Scaife, the senior living team aims to capitalise on the growing momentum and recognition of senior living as a long-term stable asset class in its own right. It offers professional property consultancy services for senior living developers, funders and operators specialising in housing, senior living, assisted living and other related services.

Tom comments; “These are significant deals for the UK sector, from some of the biggest names in global investment. Activity and momentum is building and we continue to see both increased volume and deal size as the sector expands. 

“Our research forecasts the total value of the private senior living market will climb 40% to £55.2bn by 2023, from £39.6bn in 2019 - with this growth underpinned by demographic shifts and increased investment from both the UK and overseas. Subsequently, over the next five years we expect to see a race to scale and brand-building from some of the early movers to create efficient management platforms.

“When looking at the existing senior living market, there has been a fundamental failure to address the specific housing, health and care needs of the UK’s older demographic, with the problem only getting worse as the number of seniors increase. Projections indicate that the number of over 85 year olds living in the UK is set to double by 2041 and treble by 2066 – by when there will be a further 8.6 million residents over the age of 65.”