Markey Group starts work on 15m pound luxury retirement complex
Known as Honeybourne Gate, the luxury scheme – the first of its kind in the town - is being developed by Markey with the backing of private investment company Parallel Capital. It will be managed by Oak Retirement
18 November 2013
Known as Honeybourne Gate, the luxury scheme – the first of its kind in the town - is being developed by Markey with the backing of private investment company Parallel Capital. It will be managed by Oak Retirement.
Gloucestershire Local Enterprise Partnership, GFirst LEP is supporting this prestigious development, by providing a loan funding award from the Gloucestershire Infrastructure Investment Fund (GIIF).
Located on a brownfield site on Gloucester Road, Honeybourne Gate has been specially designed for older people keen to remain independent and continue living in their own properties rather than move into a care home.
Built by Markey Group’s subsidiary company Markey Construction, the scheme will consist of 54 one and two-bedroom apartments as well as a range of communal facilities. Residents will also be able to access ‘extra care’ services including on-site emergency support at any time, domestic help and assistance with personal care.
Tony Markey, director of Markey Group, said: “Honeybourne Gate is a forward-thinking scheme that will enable older people to retain their property and independence for as long as possible. It supports latest government policy regarding elderly care and evidence shows that the vast majority of people who move into properties like these never need to go into a care home.”
Spokesperson for Somerset-based Oak Retirement, director Stephen Ladyman, explained that communal facilities would also include an on-site restaurant, cinema room, fitness pool and roof garden. There will be a luxurious atrium for owners to relax in and entertain friends and the development will have a five-star feel throughout.
“This is an exciting development and we expect to have a show apartment ready next summer with the first residents moving in either late in 2014 or early 2015,” added Dr Ladyman.
David Owen, chief executive, GFirst LEP, said: “I am delighted that we have been able to support the development of local projects such as this scheme, which will kick start investment, as well as create jobs for the local economy.”
Mayor of Cheltenham, Councillor Wendy Flynn, welcomed the scheme which is being built on the junction of Gloucester Road and High Street.
She said: "Development of our brownfield sites is good. I am looking forward to seeing this particular development get under way as it will hugely improve that part of the town."