Leading UK provider of luxury retirement villages, Audley Group, has signed a new joint venture agreement to enter the Danish market.
The deal with Danish pension company, PFA, will fund the development of ten retirement communities, each with up to 250 later living apartments.
Nick Sanderson, founder and Chief Executive, Audley Group, (pictured) said: “We have extensive experience of both developing and operating retirement villages throughout the UK. Today’s new joint venture structure allows us to effectively export our existing model that we have honed over the past two decades in the UK and capitalise on key growth areas in Europe. PFA has been a strong and supportive partner of Audley and is well-aware of the potential of this model. In line with the rest of Europe, Denmark’s ageing population provides the ideal opportunity for Audley and PFA to combine their extensive knowledge of the later living market.”
The partnership, which marks Audley’s first overseas venture, is targeted at the growing luxury retirement market in the Greater Copenhagen and Aarhus regions.
Michael Bruhn, executive property director, PFA added: “Over 65s is the fastest growing section of the Danish population, and their wishes and needs in terms of housing are changing rapidly. Our market analysis points to a strong demand for retirement villages in the Danish market. In the future, this new type of housing could serve the needs of those looking to downsize from the traditional family home to their retirement home. We believe this is a market with very interesting perspectives.”