Specialist retirement living provider Platinum Skies has put an unusually large property on the market, aimed at downsizers wishing to retain space.
The 1082 sq. ft. home, located at Platinum Skies’ Monterey development in Christchurch, is set over two floors and comes with double door access onto private communal gardens, giving it the layout and aesthetic of a modern terraced home – a rarity among retirement properties.
The property also enjoys the standard-of-finish common across Platinum Skies’ developments, with a shaker style fitted kitchen, open-plan living area with luxury finishes, downstairs cloakroom and two en-suite double bedrooms. In addition, the home’s owners will be able to benefit from the Monterey development’s communal living areas and gardens, as well as an on-site lifestyle manager who assists residents and helps foster a sense of community.
One-in-five over-55s anticipate downsizing at some point*. They expect to raise, on average, £85,300 from the process** – a reasonably conservative amount, given the average value of a retiree’s home stands at £314,000***. This suggests a sizeable proportion of retirees seek to balance the financial benefits of downsizing with owning a property which offers them space and comfort, making a sizeable shared ownership home, such as the one at Monterey, an ideal option.
The property at Monterey can be purchased through Platinum Skies’ flexible ownership model which is designed to reduce the costs typically associated with downsizing to a retirement property. Under the model, prospective residents purchase a share in a property, before paying a monthly rent and management fee.
Platinum Skies is also operating a “part exchange” scheme for the home, enabling a buyer to move into it before they have found for their old home a buyer.
David Hines, Chief Executive of Platinum Skies comments: “Nearly six million people in the UK are on the brink of downsizing. Not all of them will want the same thing. That’s why it’s crucial we provide a diversity of living options for older people – from studio-style apartments to larger houses such as the property we’re launching.
“We also appreciate retirees are increasingly looking for different modes of ownership. Our part-rent, part-buy model can give retirees the security of homeownership combined with the comfort of high-grade serviced living. We aim to be similarly flexible when it comes to the purchase process. By using our bespoke part exchange model, older people no longer have to stress about slotting into a buyer-seller chain and can focus on enjoying their retirement.”
House number 35 at Monterey is £225,000 for a 50% share (FMV – £450,000).
The property is available to visit by appointment only. For more details call 01202 471461, email getintouch@platinumskies.co.uk or browse the website www.platinumskies.co.uk.
