Two out of three of Birchgrove’s rented retirement communities are at full capacity, with the Sidcup and Woking communities now operating waiting lists.
Queensgate Apartments in Sidcup, which comprises of 74 one-, two- and three-bed apartments, is now at over 98% occupancy, while Woodbank Apartments in Woking, which comprises of 51 one- and two-bed units, has reached 96% occupancy.
The occupancy rates represent a significant landmark for Birchgrove following M&G’s £69m acquisition of the two sites in January 2022.
As a result of the full occupancy, both sites are now operating a Ready List – a waiting list of retirees looking to rent a unit once they become available, having already registered interest and undertaken a financial assessment.
Birchgrove has invested in a further six sites across the South-East, with three communities under construction and now available for rental off-plan, and a further three London sites acquired.
Honor Barratt, CEO at Birchgrove said: “We’re thrilled to have acquired nine sites in six years, and we’re proud to be changing older people’s lives for the better, by helping them to live more flexibly.
“But with two of our three operating communities already at full occupancy, the sector requires far greater investment, development and ambition to meet this surging demand.”
