Audley forms jv to back four new retirement villages

Luxury retirement housing provider Audley Group has teamed up with the real estate arm of Schroders and Octopus Real Estate, to fund the development of four retirement villages. The joint venture covers the Audley Villages sites at Cobham in Surrey, Sunningdale Park in Berkshire, Scarcroft in West Yorkshire and Stanbridge Earls in Hampshire. These represent a total GDV of circa £400m, providing a total of over 500 units. Schroders and Octopus, which are teaming up on an investment for the first time, will provide the majority of equity for the developments alongside Audley. Audley, which has 20 villages in its