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Show of unity and purpose at Retirement Community sector AGM and Assembly

18 October 2018

  • Nick Sanderson, Founder and CEO of Audley Group, re-elected as Chair of ARCO
  • Jane Ashcroft, Chief Executive of Anchor, re-elected as Vice-Chair of ARCO
  • Nick Abbey, re-elected as Chair of ARCO’s Standards Committee
  • Bank Leumi (UK) and Trowers & Hamlins sponsor the annual ARCO member events and showcase their commitment to the Retirement Community sector

IMG_20181018_161154 esMembers of the Associated Retirement Community Operators (ARCO) showed their strong support for the direction and strategy of the Retirement Community trade body at this year’s AGM, unanimously re-electing Nick Sanderson, founder and CEO of Audley Group, as Chair of the ARCO Board of Directors and Jane Ashcroft, Chief Executive of Anchor. as ARCO’s Vice-Chair. Nick Abbey was also re-elected as Chair of ARCO’s Standards Committee, which oversees ARCO’s self-regulatory function.

The various events of the day were kindly sponsored by Bank Leumi (UK) and Trowers & Hamlins. Both are well known for their commitment to the Retirement Community sector. Bank Leumi (UK) is a key funder for many new developments while Trowers & Hamlins are legal experts in the Retirement Community sector.

 

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Michael Voges, Executive Director of ARCO, said:
“The Retirement Community sector has made great strides forward over the past year and is on the verge of becoming a truly mainstream option. We’re seeing very strong interest from customers, new entrants, major investors and increasingly strong support within Government.

 

“We know that we have a very significant role to play in the future of the UK housing and care systems. Our sector is growing in confidence and influence – we look forward to an exciting year ahead.”

 

Kyle Holling, Partner at Trowers & Hamlins said:

“The Retirement Community sector plays a valuable role in the UK housing, health and social care systems – we are delighted to be partnering with many of their members on their ambitious growth plans over the coming years.”

 

Richard Martin, Relationship Manager at Bank Leumi (UK), said:
“Bank Leumi (UK) has been providing finance to support Retirement Communities for many years, during which time we have seen the sector firmly establish itself as an exciting growth category.

 

“As a relationship focussed bank, Bank Leumi looks forward to working with ARCO members over the coming years to create funding solutions that will assist in unlocking the sector’s full potential.”

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ENDS

 

For Further Information Please Contact

Gareth Lyon, Head of Policy and Communications, at [email protected] or on 075350 88498

 

Notes to editors

  1. About ARCO: ARCO (the Associated Retirement Community Operators) is the trade association for operators of Retirement Community developments for older people. ARCO was founded in 2012, and is comprised of 30 private and not-for-profit operators of retirement communities. ARCO represents approximately 50% of the Retirement Community sector. ARCO sets high standards, and all ARCO members must adhere to the externally assessed ARCO Consumer Code. ARCO does not represent the care home sector or the traditional retirement housing model where there are limited services and no care is available.
  2. About retirement communities: Retirement Communities typically consist of individual one or two bedroom flats or small houses, located in a development of similar properties. Residents have access to a range of services and facilities, which will include optional on-site care, 24-hour staffing, and dining and leisure facilities, and may also include bars, gyms and craft rooms. Retirement Communities are also sometimes referred to as housing-with-care schemes; retirement villages; extra care housing; assisted living; or close care apartments. They sit in between traditional retirement houses (which have less extensive staffing and leisure facilities), and care homes, and can be in urban or suburban locations.
  3. Benefits of Retirement Communities:
  • Meeting the needs of an ageing population: Older people need and want choice in their housing for later life. However, at present housing options for older people are limited. Retirement Communities are an important element of housing choice for older people. Developing the capacity of the Retirement Community sector is vital to ensuring that the UK’s housing market is fit to meet the needs of an ageing population.
  • Promoting independence, security and wellbeing: Older people living in Retirement Communities are likely to experience lower levels of loneliness and social isolation. A 2014 study by the International Longevity Centre found that 82% of respondents in Retirement Communities said they hardly or never felt isolated, and only 1% often felt isolated.
  • Reducing costs and encouraging more efficient use of resources: Residents in Retirement Communities are able to receive specialist care in their homes if needed, enabling them to return home from hospital earlier. They are also less likely to enter hospital. For example, one way in which Retirement Communities improve health is by preventing falls. Retirement Community properties are designed and built with adaptations to support independence and research shows that those living in these specialist homes are between 1.5 and 2.8 times less likely to have a fall than those living in homes without adaptations. This helps to reduce pressure on NHS services. A recent study found that NHS costs were reduced by 38% for those moving into retirement village housing and NHS costs for ‘frail’ residents had reduced by 51.5% after 12 months.
  • Responding to the housing shortage: Older people moving to a Retirement Community will typically ‘downsize’, freeing up much needed and under-occupied family sized homes. If all those interested in moving into a retirement property were able to do so, research suggests that approximately 3.29 million properties would be released, including nearly 2 million three-bedroom homes.

 

  1. About Bank Leumi (UK):
    Bank Leumi Group is Israel’s largest banking groups and a reputable global banking institution. We have total managed assets in excess of $411 billion and $9.6 billion in equities.First established in London over a century ago, the group has over 230 branches in Israel and offices in key financial centres worldwide. It offers a comprehensive range of specialised financial services.

 

Bank Leumi (UK) plc, a subsidiary of Leumi Group, has established a reputation as one of the leading foreign-owned banks in London. Offering a full range of corporate banking facilities, the Bank’s service is based on traditional values and personal relationships, assisted by the latest technology. Leumi UK is proud to have earned a reputation as a specialist bank that works hard to build long-lasting relationships with clients, while offering each individual the solution that is best suited to their needs.

 

Bank Leumi (UK) plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
leumi vector sponsors logo
www.bankleumi.co.uk

 

  1. About Trowers & Hamlins:
    Trowers & Hamlins has a leading practice in health and social care advising investors, operators, local authorities, the NHS and developers on buying or selling, establishing, building and managing care services of many kinds. The firm is a market leader in both housing and public sector giving them a broad understanding of all forms of care provision from multiple client viewpoints.

Their advice covers all legal services and market segments including Investment, Banking and Finance, Corporate/M&A, Real Estate, Development and Construction, Governance, Employment and Pensions, Housing Management, Landlord and Tenant, Charities, Planning, Contracts & Operational Issues, Human Right & Dispute Resolution. Their team adds value to clients by combining core legal practice areas with an understanding of the legal and regulatory frameworks and the market drivers relevant to the sector.

Trowers & Hamlins sbc2s

www.trowers.com