Research by Prudential suggests that up to 4 million people over-55 years old in the UK could be looking to downsize, with convenience rather than cash being their main motivation.
Gillian Girling, Chief Executive of Girlings Retirement Rentals says many older people are choosing to downsize and rent in purpose built retirement developments as they are often centrally located, close to amenities and because they no longer want the burden and cost of property upkeep and maintenance.
Girlings offers the majority of properties to rent on Assured Tenancies, which provide tenants with the same level of security as home ownership, which is a major attraction of renting in retirement.
“For retired couples downsizing and renting a more manageable property gives them the freedom to just get on with enjoying their retirement, without looking after a large home. Renting on an Assured Tenancy offers the chance to move to a new location, perhaps by the coast or city centre, without the commitment of buying or being outpriced of popular retirement hotspots, and then being able to live there for as long as you want to.”
“Two-bedroom properties are particularly popular with couples who are considering downsizing, as they provide flexible accommodation to use as either a second bedroom, dining room or study. It is this adaptability which is the key to their popularity, even though most retirement developments also have a guest suite for visiting family and friends to stay.”
Girlings currently has a range of two-bedroom properties in desirable locations throughout the UK. All rents include service charges and property maintenance, plus the developments have a resident’s lounge and communal gardens, 24-hour emergency call system in each apartment and a manager who is there to look after the smooth running of the development.
For those seeking a room with a view and a city location, Browning Court in Newcastle upon Tyne is ideal. A two-bedroom penthouse apartment, with en-suite and second bathroom is located on the second floor, with lovely views overlooking the rear gardens. This is £995 per calendar month, inclusive, on an Assured Tenancy.
For those keen on country views, Websters Holt is a two-bedroom cottage in the lovely village of Upton on the Wirral in Cheshire, available for £765 per calendar month, inclusive, on an Assured Tenancy. The Wirral was recently voted the third happiest place to live in the UK.
For people with a naval interest, Charles Dicken’s Court is also hard to beat. It’s a period property located in the heart of a charming and historic Conservation Area of the city of Portsmouth, which houses the birthplace of Charles Dickens. Spacious two-bedroom apartments are available from £795 per calendar month, inclusive, on an Assured Tenancy.
Those who prefer the coast would like Tembani Court, located on the edge of Paignton seafront in Devon, just a short walk from the town centre with its range of shops, facilities and amenities. A large two-bedroomed, two-bathroom, apartment on the fourth floor is £950 per calendar month, inclusive, on an Assured Tenancy or £895 per calendar month on an Assured Shorthold Tenancy.
For those looking for a development with extra facilities such as a Village Club, bar, gym, library and games room, then Thatcher View is perfect. Set within Lincombe Manor Retirement Village in Torquay, there are three, two-bedroom luxury apartments available with stunning views over the bay from £1,800 per calendar month on Assured Shorthold Tenancies.
This is just a small selection of retirement properties on offer across the country. For more information visit: www.girlings.co.uk