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Tue March 02 2021

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US retirement home model brought to UK

23 Feb 18 There’s a new player in the ‘later living’ market in the UK with Elysian Residences investing £500m in the construction of four developments in the southeast.

CGI of Elysian's Landsby Residence in Stanmore, North London
CGI of Elysian's Landsby Residence in Stanmore, North London

Elysian Residences has acquired and begun development on two new sites in Stanmore and Hampstead with two further sites acquired in Loughton and Runnymede.

The developer/operator, founded by Gavin Stein in 2013, has partnered with US firm One Eighty, which operates more than 50 retirement communities in three countries.

The contractor for the Stanmore development, Landsby Residence, is Henry Construction. For Hampstead, the contractor has not yet been finalised, but Cantillion has completed the demolition and begun excavation.

Collectively, the first four UK developments are set to provide more than 400 new-build apartments, offering ‘luxury and lifestyle amenities’.

“Elysian Residences plan on changing the UK later living sector by taking the best parts of the established US approach and tailoring this to the UK market,” said Gavin Stein. “Our developments cater to every need, through comprehensive medical care, hospitality-led amenities and services, and access to a vibrant community.” 

The Elysian Residences leadership team includes former Grosvenor financial director Gary Powell as chief financial officer and former Henson/Ronson Capital Partners construction director Ian Blake as head of development and construction.

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