Extra Care Homes

Affordable, Sustainable, Care Efficient, Future Proofed

Working with Local Authorities and Homes England to Deliver a New Generation of Affordable Housing

0
Year Build Program
0
Target New Sites
0 +
Apartments each development
£ 300 m
Investment

Our Vision

To deliver, own and manage, sustainable, community based, outward facing Homes for Life at affordable rent for qualifying tenants who can live independently and have intermediate care needs.

Registered Provider of Social Housing

Preferred Homes Limited is a registered provider of social housing approved by the Regulator of Social Housing in April 2020 (reg. no. 5093) to develop, own and manage social housing.

Our objective is to deliver, own and manage a portfolio of new sustainable affordable rented Extra Care apartments with available on-site care, assisting Local Authorities under pressure to provide more social housing suitable for older residents, reducing care budgets and a current reliance on more expensive and unsuitable care alternatives.

We are significantly investing in the sector to become a market leader in the provision of Extra Care housing to qualifying tenants in areas of unfulfilled demand across England.

We are developing new supported independent retirement housing into which our partnering Local Authorities provide or procure intermediate care services for our qualifying residents.

We are working with Local Authority partners where we have identified local demand for affordable rented Extra Care.

We work collaboratively with Local Authority Commissioners identifying suitable sites in community settings and develop apartments with shared facilities, gardens and parking. We have carefully researched the Extra Care market in order to understand and challenge existing design trends, adopt assistive technologies and deliver in accordance with HAPPI principles and Housing LIN guidelines.

We are looking to significantly invest in the sector over the next 10 years and become a market leader in the provision of Extra Care housing to qualifying tenants across the whole of England

extra Care Homes

What we do

Create Homes For Life For Older Residents

Putting HAPPI principles and Housing LIN guidance at the heart of our schemes

creating

Our model creates Extra Care retirement housing using private capital, bank debt and Homes England grants

Deploying

Total expenditure to deliver our £500 million programme

Delivering

Delivering homes across England to meet unfulfilled demand

Owning

We own our delivered housing and do not use a leaseback model

Renting

We set our affordable rents and eligible service charge in collaboration with the Housing Benefits team of each Local Authority

Affordable

Our approach to land price, construction costs and Homes England grants mean we deliver local affordable rents

certainty

Rents under our assured shorthold tenancies have contracted annual rental growth of CPI +1% based on current Government policy

Integration

Our developments are fully connected, outward facing into the local community and enhance the neighbourhood enabling both active and passive engagement

Benefits of extra care

Why extra care?

"British Property Federation Housing and Care for Older People - Defining the Sector 2020."

quote
  • There are currently around 11 million people aged over 65 in England & Wales.  By 2029 there will be over 13 million.
  • Extra Care Housing in England, as a proportion of the older population, is at least 5 times smaller than that of other comparable countries.
  • Present delivery rates are low with developers completing an average of 7,600 units of housing for older people each year between 2015 – 2019. 
  • The undersupply of housing for older people is likely to worsen as our population ages.
  • A 5 fold increase in Extra Care Housing delivery is needed over the next decade to keep up with the ageing population.

Growing demand & Continued Shortages

Cost Efficiencies of Extra Care

The long term ‘wellbeing’ benefits of Extra Care are well documented however there are also notable benefits to the health and social care systems.

Over recent years, many local authorities and housing associations have sought to evaluate the financial benefits of Extra Care.  After assessing and reviewing independent publications, Preferred Homes Limited has adopted an estimate of cost savings per person per annum of:

  • Care and housing – £5,000
  • NHS – £2,000
  • Combined Savings – £7,000

This reflects annual savings at an 80 resident PHL Extra Care development of £560,000 or a total of £14 million over a 25 year nominations term.  

designing homes for life

Design Principles

importance of design

We create affordable “homes for life” for older, vulnerable residents who are able to live independently and have intermediate care needs.

Preferred Homes Limited is delighted to be working with our panel of architects, Local Authority partners and Homes England to provide a new generation of well designed, sustainable community based extra care housing which is entirely resident focused.

With reference to the updated HAPPI principles and the latest guidelines of the Housing LIN, from the All-Party Parliamentary Group (APPG) on Housing and Care for Older People, we present our recently published proposals for excellent design and delivery taking into account learning for a post COVID and Grenfell world

10 Development Principles

Home for Life

We create affordable urban and suburban “homes for life” for elderly residents who are able to live  independently and have intermediate care needs

Location & Connectivity
Located within communities maintaining family and social links
Close to amenities
Good transport links
Well considered parking availability
1
Care Ready
Smart home technology
Accommodation to suit changing care needs
Device operated apps
External monitoring
2
Energy Efficiency
Low utility bills
Avoid overheating
Roof Mounted Solar PV
Zero “O-Zone” depleting Wall and Roof Insulation
3
Community Facilities & Social Opportunity
Enable active ageing
Community connectivity
Health & wellbeing
Intergenerational integration
4
Use of Technology
Internet of things
Open standards and protocols
Cloud computing
Up to date monitoring service
5
Aspirational Environment
Good space standards and storage
Maximum natural ventilation
Avoidance of internal corridors with no light or ventilation
Maximum glazing - plentiful natural light
6
Inclusive Design
Spacious and adaptable
Fully wheelchair accessible
Barrier free
Considerate design for cognitive or sensory impairment
7
Aspirational Choice
Privacy
Community
Flexibility
Mix of 1 and 2 beds homes
8
Safe & Secure
Secure exterior and gardens
An enabling environment for social distancing
Own front door
CCTV
9
Appearance & Amenity
Attractive internally and externally
Contextual design
Beautiful gardens
Communal terraces
10
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Management team

Meet the team

Our multi-disciplinary executive team has more than 30 years hands-on experience in the sourcing, delivery and management of real estate development and investment, including regeneration and housing.  The team brings together proven resource in property development and management, legal and accountancy, banking and finance, risk and governance and Local Authority understanding.

Findlay MacAlpine

Chief Executive Officer
Findlay is a qualified chartered surveyor with a 30+ year property investment and management career with Standard Life, Colliers and Mason Philips before investing in Preferred Homes Limited.

Stephen Sorrell

Social Partnership Director
Stephen is a qualified solicitor with a 30+ year social housing specialism, acting for local authorities across England and Homes England since it’s original establishment as English Partnerships before setting up and investing in Preferred Homes Limited.

David Newsome

Chief Financial Officer
David is a qualified chartered accountant with a 30+ year career in structuring, administration, compliance and property acquisition and management before investing in Preferred Homes Limited.

Richard Frank

Property Director
Richard is a qualified chartered surveyor with a 30+ year property development and acquisition career with Asda, Sainsbury and as a self-employed consultant before investing in Preferred Homes Limited.

Alan Ferguson

Risk Director
Alan is a former banker with a 30+ year career in Real Estate and Corporate Asset Restructuring with Chemical Bank, The Bank of Tokyo Mitsubishi and The Royal Bank of Scotland before investing in Preferred Homes Limited.

Non-executive Directors

The Executive Team is supported by it’s non-executive directors;
Jean Bray, Ian Brown and the boards Chairperson, Judith Watson.
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Welcome to Preferred Homes

Preferred homes is developing "HOMES FOR LIFE" at affordable rent for older people.

Our team is committed to identifying and securing land for successful Extra Care Housing