NHBC announces new partnership with retirement community body ARCO
New build home warranty and insurance provider NHBC has announced a new partnership with the Associated Retirement Community Operators (ARCO) to support the growing demand within the retirement living sector.
Retirement communities combine independent living for older people, through them renting or owning their own flat, with the provision of 24/7 onsite staff, Care Quality Commission (CQC) - registered domiciliary care if needed, and a wide range of communal services and facilities. Estimates show that 75,000 people currently live within retirement communities, with the number of over 75s in the UK set to double in the next 30 years.
The retirement community sector has also set a target to provide a home for 250,000 older people by 2030.
ARCO, formed in 2012, is the main body representing the retirement community sector in the UK and aims to promote confidence in the sector and drive policy change to increase the number of retirement communities.
Talking about the new arrangement, Matt Scarrott, NHBC’s retirement living sector lead, said: “The demand for purpose built, high-quality housing options for older people with tailored support services is predicted to grow substantially and will play an increasingly important role in the UK housing market.
“As a result, we have developed a dedicated construction assurance process and product for the retirement living sector, which we are confident will be attractive to investors, operators and developers who want to de-risk homes, provide long-term asset protection and reassure their customers.
“This process enables our specialist team to work with clients as early as pre-land acquisition and throughout the design and construction process to help deliver homes of the highest quality. As a result, the risks to each project, to the quality of construction and to long-term asset are mitigated.”
Michael Voges, executive director, ARCO, added: “It is fantastic news to announce our partnership with NHBC. There is a close alignment between NHBC’s commitment to quality and ARCO’s aim to promote confidence, raise awareness of the retirement community model and increase the volume and quality of expertise within the sector. It is a partnership we welcome as we look to grow the retirement community sector in the UK.”