Hallmark Care Homes, which operates 17 luxury private homes across England and Wales, is weighing up options to move into the care village market.
The new venture would come on top of a growth programme that will see the group build up to three premium care homes per year for the remainder of this decade.
In an exclusive interview with Care Home Professional, Hallmark Care Home managing director Avnish Goyal (pictured above) said that the UK was ripe for the types of retirement villages that are common in other parts of the world like the US and Australia.
“I think we are going to see more and more people actually want to move into their own apartments in care villages for many reasons including security, companionship, comfort, shared facilities. It could be a lifestyle choice – living on a golf course, for example – or being able to go swimming or have a spa treatment. All of that could be on offer within the care community. Plus, people will meet new friends and it will be easy for them to spend time together within the development,” he suggests.
Goyal says he is actively working on a business plan that could see Hallmark Care Homes open its first care village by 2017, although he cautions that it is not a straightforward business to crack.
“We are looking at projects currently. The challenge is that the investment levels are significantly higher. And you are also moving into the residential property market to a large extent. We have seen property markets go from boom to bust too often to be overly confident; it is very cyclical,” Goyal says. “But I do see that, done correctly, with the right funding model and the right business plan, it is a good way to go over a period of time.”
Read more about Avnish Goyal’s plans in a full interview in the December edition of Care Home Professional magazine. The magazine is free to senior executives and owners of care home groups in the UK.