Welcome to pensioner property investment
Many dread the days when they might have to move into a floral-wallpapered care home and take up knitting, but this is a thing of the past for the good people of Manchester.
Manchester City Council has been awarded £6.54 million from the Department of Health Extra Care Fund to transform an empty tower block into a state of the art supported housing complex for older people. Work will start on the development in Spring next year.
Forget watching Countdown of an afternoon, the residents here will be taking advantage of a sky lounge and a rooftop jacuzzi. They can also enjoy the use of a village hall-style day centre, restaurant, assisted bathing facilities, hairdressers and treatment room, shop, communal lounges, quiet room and IT suite as well as an older people’s play area (I don’t even know where to begin joking about that one).
40 per cent up for private investment
Around 40 per cent of the 92 apartments will be offered up for sale to individual private buyers and if you’re liking the sound of Tai Chi in the sky lounge and surfing the web with Hilda in the IT suite, then you might not have to wait as long as you think to sign up. Investors only have to be over 50, so get packing!
‘Gran will keep it warm’
The City Council says the scheme
“will provide modern, flexible and affordable housing, designed to adapt to residents’ changing needs as well as allowing the residents to be as independent as possible”.
Well at 50, I would imagine most are fairly independent. But if you’re much younger and still like the sound of the new development, why not invest in a flat for gran? She’ll keep it warm until it’s your turn.
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