Funding boost for retirement village
A 'RETIREMENT village' is to be built in an idyllic area of Yorkshire with the help of £17.25m of funding.
The 98 unit development is being built on the grounds of Clevedon Hall, a former school in Ben Rhydding on the outskirts of Ilkley which closed in 2005.
Bank of Scotland Corporate's Real Estate division has provided funding for the scheme, which is being built by Raven Audley Court, a company which specialises in creating homes for older people who want to remain independent.
Residents will purchase a home in the Ilkley development, paying an annual fee towards the upkeep of the communal facilities and membership of the Audley Club.
This includes the use of the leisure facilities of swimming pool, gym and a tennis court, thereafter paying for additional consumables within the restaurant, leisure services, housekeeping and care, as and when required.
Audley has recently completed similar developments in Tunbridge Wells and Harrogate, and also has developments in Maidstone, Matlock and Kintbury, near Newbury.
The development, which has full planning permission, will provide 18 one-bedroom and 77 two-bedroom apartments, along with a three-bedroom apartment and two two bedroom cottages.
Sales are expected to begin this summer, and purchase is open to households with at least one person over the age of 55.
Irene Kennedy, director of real estate for Bank of Scotland Corporate, said: “We are excited about the opportunity to fund an innovative development like Raven Audley Court's conversion at Clevedon Hall. The concept of retirement living has proven popular in Audley's previous developments, and we are delighted to be involved in this expanding market sector, backing a very successful management team.”
Nick Sanderson, chief executive of the recently formed Raven Audley Court, said: “We are absolutely delighted to have the opportunity to work with the Bank of Scotland on what must be one of the most attractive village sites in the UK.
“It will represent the seventh new village to be developed by the company and has already received a considerable amount of interest from the local community.”
