A new opportunity has arisen to invest in a luxury retirement home in Blackpool.
Blackpool is a renowned English seaside resort in the north west of England. It has a wide range of attractions, from the Blackpool Tower to the UK’s only surviving first-generation tramway.
Blackpool’s population is generally higher than the national average (at 20.4% are aged 65 or above as opposed to the national average of 17.8%). This is mainly because Britain’s elderly population tend to congregate in coastal or countryside areas rather than in metropolitan areas. Having an older than average population means that demand for retirement resort lodgings will be boosted.
The former hotel will be transformed into 61 luxury retirement suites – many with sea views – for long and short-term residents. The retirement retreat will be conveniently located on the seafront, so residents can enjoy leisurely walks along the promenade. It is also close to Blackpool’s North Shore Golf Club, for those who are into their sports. Conducive to luxury living, It will boast a private cinema, fine dining, a hair and beauty salon and a spa.
The number of Britain’s over-65s is predicted to swell four times faster than the general population over the next five years. The baby-boomer generation is one of the wealthiest generations, with Knight Frank estimating they have £1,200bn in unmortgaged housing wealth. Recognising that this generation can afford more than its predecessor, savvy investors are spotting a gap in the market for retirement home property. The fundamentals and ageing population has enticed US investment trusts such as WellTower to invest heavily into the sector, and with Berkley Care Group claiming it makes £30,000 profit per bed before tax, it’s unsurprising why many investors are enthusiastic over these opportunities.
Contact us today to learn about this new investment opportunity in the form of a retirement home in Blackpool, and the robust nature of luxury retirement home investments in the United Kingdom.