The new agreement will fund the development of ten retirement communities with up to 250 later living apartments in each. In keeping with Audley’s network of villages throughout the UK, each of the newly created retirement communities in Denmark will offer owners access to not only central facilities, including restaurants, wellbeing centres, library facilities and hobby rooms, but also an onsite domiciliary care function.
The partnership represents Audley Group’s first strategic development outside of the UK and reflects the growing demand for luxury retirement living options within Greater Copenhagen and Aarhus. Comprising a high density of over 60-year olds with suitable disposable income, the area represents an area of significant potential growth for Audley. The Danish villages will have their own brand identity which is currently in development.
Active in the later living retirement market for over 20 years, Audley Group has extensive knowledge and expertise of this sector with 20 villages throughout the UK in its portfolio. PFA has witnessed the growth of Audley, having become a significant investor in the Moorfield Audley Real Estate Fund, which acquired Audley in late 2015. Michael Bruhn, Head of Real Estate at PFA, is a Non-Executive Director sitting on Audley’s Board.