Global property consultancy Knight Frank has restructured its retirement housing team to boost its service offering.
The firm, which has been active within the retirement housing sector for the last 15 years, has bolstered its exposure to the specialist market following an uptick in investor appetite and an increase in global wealth looking to enter the market.
Knight Frank has created a dedicated team focusing on research, land agency, valuations, rentals and sales across the retirement sector in the UK.
Headed up by Tom Scaife, the team aims to capitalise on the growing momentum and recognition of retirement housing as a long-term stable asset class in its own right.
Scaife, a partner of Knight Frank Retirement Housing, commented: “The retirement housing sector is migrating from ‘niche’ to specialist mainstream. We are seeing considerable activity from investors, developers and consumers across a range of product in the market, including ‘over 55s’ retirement housing, housing with care and assisted living.
The firm has recruited Lauren Cole to lead its retirement research. Lauren will work with Dr Diana Babacic to produce market leading analysis that aims to inform developers and investors on the asset classes’ opportunities and constraints.
Over the last 12 months, Knight Frank has valued retirement housing portfolios totalling 5,000 units for a variety of market leading operators and their funders and have worked with a number of existing operators and new entrants in identifying new land purchases.
James Mannix, head of residential capital markets for Knight Frank, added: “In response to the growing maturity of the sector we have put an industry leading team in place to service our retirement housing client’s needs, from land search and selection to the letting and sale of the end product. With the ageing population growing in our country, here at Knight Frank we see extra care and retirement specific housing as the asset class to watch closely.”