The news that Churchill - ‘oh yes’ - is going on a land buying spree is significant news in the retirement homes sector. This Churchill is not a nodding dog in an insurance ad, nor a former Prime Minister who, if he did not get thrown out for smoking a cigar in the studio, would have lit up the Leaders’ Debate no end.
No, Churchill is a retirement developer, run by brothers Spencer and Clinton McCarthy. The company is looking at spending £100 million on around 50 new sites in the next three years. Renaissance Lifecare, a 2009 What House? Awards winner, wants to develop £1 billion worth of retirement villages over the next five years.
An expanding, ageing population with money in the bank, if their pension pots have not been raided, means the retirement homes market promises to be the growth area in property.
But the accommodation has to be right. Tell a 55-year-old that he qualifies for a retirement home and you’ll be challenged to a game of squash. Elderly care is much more than a panic button, but equally over-institutionalise a home and the homeowner feels like a patient.
Specialist care home operators have a mixed press. But providing mainstream housebuilders can bring in the necessary expertise, there is no reason why an industry, already building homes and communities, cannot offer elderly care services.
Churchill is targeting houses with big gardens, pubs and petrol stations for its land acquisition. When I retire Churchill, don’t demolish the pub. Just put me in it, with a panic button for when the beer runs out. ‘Oh yes’.
Rupert Bates is editorial director of What House?
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