Surge in sales at Failsworth's newest retirement community thanks to shared ownership

A retirement housebuilder has reported unprecedented interest in Sydney Grange, McCarthy Stone’s latest Retirement Living development in Failsworth.

Over 75 per cent of the properties have now been sold since homeowners first began moving into the development in January. 

Located on Ashton Road West, Sydney Grange now only has a dozen of its 51 purpose-built retirement apartments remaining. 

Part of this burgeoning demand is thought by McCarthy Stone to be due to the shortfall of specialist retirement housing across the UK.  

As a result, it is estimated that by 2045 there will be a shortfall of 350,000 retirement homes and supported housing specifically for older people. 

To help with the shortfall and to make downsizing more accessible, properties at Sydney Grange are exclusively available through the Older Persons Shared Ownership scheme, a government-backed initiative which allows retirees to enjoy the benefits of Retirement Living without committing to the full purchase price.  

For example, retirees can buy just 75 per cent of the property value and pay no monthly rent on the remaining share, with one-bedroom properties available from £142,500. 

Designed for those over 55, the scheme helps reduce the costs of buying a retirement property, bringing the concept of retirement living to a much wider group of people than ever before and allowing them to enjoy a safe, secure and independent lifestyle for less. 

Kirsty Payne, Sales Director at McCarthy Stone, said: “We have been absolutely bowled over by the high demand for our superb selection of retirement properties at Sydney Grange.  

“Interest remains high in our flexible purchase options and the vibrant lifestyle that we offer, so we’d urge anyone who is interested in learning more about how McCarthy Stone can help them live life to the fullest, to act fast.” 

Located in the heart of Failsworth, Sydney Grange offers a choice of cost-effective, low-maintenance retirement apartments. With well-maintained gardens and an elegant communal lounge, the development is designed to create a unique brand of retirement living with independence and community at its heart. For peace of mind, a House Manager is on-site during office hours to help keep everything running smoothly, while each property is fitted with a 24-hour emergency call system and fire detection systems. 

More than nine out of 10 customers would recommend McCarthy Stone to a friend, ensuring it has received the full Five Star award for customer satisfaction from the Home Builders Federation. McCarthy Stone is the only UK housebuilder of any size or type to achieve this rating every year it has taken part in the survey. 

For more information about Retirement Living at Sydney Grange, please call 0800 310 0729 or visit www.mccarthystone.co.uk/sydney-grange.  

*Shared Ownership example price shown at 75% with no rent to pay. Other shares are available with a monthly rent. Qualifying criteria apply. Subject to availability. See www.mccarthystone.co.uk/shared-ownership for more details.