A retirement village business is to be placed on the market for about £70 million as its owners look to focus on core investment and development operations.
The retirement village portfolio is comprised of a development pipeline of 606 units, 150 of which have already been built or are currently in construction.
The sites are located in Lime Tree Village, Rugby; Liphook, Hampshire; St Loyes, Exeter; Maudsley Park, Great Aulne; Milton, Cambridge; and Faygate in Horsham.
At Lime Tree Village 153 units have already been sold, while at Maudsley Park, which is at the other end of the scale of completion, the owners have a 314,000 sq. ft. industrial estate with the potential to be used as a retirement village.
Deloitte has been drafted in to manage the business sale on behalf of its joint owners Helical Bar and Urban Renaissance Villages.
The joint venture was set up in 2002 in order for Helical to expand beyond its office, retail and mixed-use developments in London and the South East.
The news comes only weeks after Helical announced that it is ready to make new acquisitions in retail property. The company has certainly been busy so far this year - it also announced the completion of two separate deals involving the purchase of Newmarket Shopping Centre in Suffolk for £17.75 million and Sutton-in-Ashfield Shopping Centre, Nottinghamshire for £16.01 million.
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