PegasusLife announces its vision to become the leading developer of homes for the discerning older generation in the UK. With leading global alternative asset manager Oaktree Capital Management, L.P., pledging to invest over £500million into the sector in the next several years, Pegasus Life has an ambitious growth plan.
Headed up by Howard Phillips, previously CEO of McCarthy and Stone, PegasusLife has established that an opportunity exists to develop beautiful homes in desirable locations across the UK, characterised by an insightful design approach and transparent service. Working with some of the UK’s top architects, the company aims to reach those who do not currently consider a ‘retirement home’ as a desirable lifestyle choice.
The development of highly desirable homes for the older generation has proved successful in the US, with over 15% of the over 65 market engaging in the concept, compared to less than 1% in the UK. The domestic market views ‘retirement’ as a ‘needs’ based decision, however PegasusLife intends to change this.
PegasusLife will also deliver ‘estate-management’ services for residents, including social and leisure facilities, together with a level of service tailored to each individual’s needs; all delivered on a transparent and not-for-profit basis.
Howard Phillips, CEO PegasusLife, comments:
“The time is right to make properties much more desirable for those in later life. Most of the discerning older generation will currently stay in properties which may well become hard to maintain, or no longer support their changing lifestyle needs. We will provide places where people really want to be and will enjoy the good things in life.”
The company has already acquired ten sites, with the first two in Bude, Cornwall and Woodbridge, Suffolk, both of which are under construction. PegasusLife has an ambitious plan, with a further 20 sites being acquired over the next 12 months, each site delivering 10 to 150 properties in beautiful locations – from chic city venues (including London) to scenic seaside settings and charming market towns.