Let to live
Duo leading their brand with ‘let to live’ concept
Christine Young and Gillian Sloan, co-founders and directors of loopliv Group Ltd., are focused on disrupting the senior living housing marketplace with their ‘let to live’ strategy.
The UK Government’s recent ‘People at the Heart of Care’ White Paper 4 states that every decision about care is also a decision about housing.
The Mayhew Review “Future-proofing retirement living Easing the care and housing crisis” goes on to say “This report argues that the necessary changes require a life course approach. If everybody lived in homes that were appropriate in size for their needs, it has been estimated that 50,000 fewer homes would need to be built each year. Almost as many bedrooms are being decommissioned through under-occupation as are being replenished by new homes. In contrast, we estimate that for each bedroom added to the retirement stock, two to three are released in mainstream housing.”
“Older people are living longer and remaining in their homes for longer. Those homes are becoming increasingly under-occupied as children leave. According to current policy, the answer is to build more starter homes, but the pace of change required is beyond the reach of the building industry.”
Rightsizing
One solution loopliv have is to encourage the ‘let to live’ scenario.
Encouraging the 55+ to rent out their own homes to families that can use the two or three ‘decommissioned’ bedrooms, in exchange for rightsized rental accommodation is one of many industry wide solutions.
Gillian Sloan, Co-Founder said:
“There is more to renting at 55+ than just saving the environment and rightsizing. There is an air of freedom and flexibility of living without realising the asset. This is a market that has yet to be fully recognised and fulfilled and at Loopliv we have the marketing strategy to penetrate this untapped marketing opportunity”
Christine Young, Co-Founder added:
“We’ve all heard of ‘buy to let’, loopliv says ‘let to live’. One of the options for residents would be to keep their house as an asset, gain an income through letting and experience the most amazing new way of living. They can enjoy their own privacy and serenity in their own modern, fully kitted out and stylish apartment yet be fulfilled socially by becoming part of a community with amenities and events. We are not saying that selling the asset and downsizing is wrong, after all we have been doing that for decades, it's just about shaking things up and coming up with alternatives.
Our properties will deliver exceptionally designed apartments and social amenities from roof garden terraces and tennis courts to cinema rooms, cafes, creative areas, art rooms and spaces to work.”
By encouraging the 55+ to rent out their own homes to families that can use the two or three ‘decommissioned’ bedrooms, in exchange for rightsized rental accommodation is one of many industry-wide solutions.
The mainstream loopliv residential senior living product holds its own as an age restricted rental product within the Purpose-Built Senior Living (PBSL) category. This makes it a unique offering, benefiting from the growing independent retirement communities (IRC) and PBSL UK market.
Knight Franks recent Seniors Housing review 2022/23 states that “there remains a compelling investment case for assets that benefit from changing ways of living and long-term shifts in demography. Rental is a growing part of the seniors housing market. We forecast the number of private rental units to increase by 114% in next five years, from more than 5,000 currently to more than 10,500 by 2025. We project investment into rental will accelerate as investors from across residential bring their learnings from PBSA and PRS.”