The new group will become the largest retirement village provider in the UK with a combined sales value of more than £3 billion. 

Retirement villages developers and operators Elysian Residences and Audley Group have merged to create the largest retirement village provider in the UK. 

The combined group will have a combined sales value of more than £3 billion, with more than 30 villages, both operating and in the pipeline, representing some 3000 individual properties.

The merger was completed with external investment from institutional funds, which have not been named. 

“Investors have recognised the benefits of the long-term secure income stream that retirement villages offer. Now is the right time to capitalise on that interest and bring together aligned brands to create more operating villages,” said Nick Sanderson, chief executive and founder of Audley Group. 

“This sector needs scale – it is still very small given the size of the opportunity and the growing older population, and this is a first step to expediting the additional retirement housing units the country so desperately needs,” he continued. 

Retaining identity

The merger brings together three retirement village brands, Elysian, Audley Villages and Mayfield Villages. All will retain their customer identities. Elysian and Audley are complementary models which have already reached significant scale and will continue to grow. Mid-market player Mayfield is a comparatively new brand and, the firms say, offers significant growth potential.

The opportunity is significant. Savills recently reported that owner-occupiers aged 65 and over hold £2.6 trillion of net housing wealth. In 2024, the pipeline of retirement housing in the UK reached just 30,000 homes, falling short of the 50,000 a year needed to meet the demand in the sector. £1.25 billion was invested and committed to the retirement housing market last year, with investment expected to increase in 2025, according to the Knight Frank UK Seniors Housing Market Update in June. 

The three village brands will sit under a new corporate group, which will be led by Gavin Stein, chief executive and founder of Elysian Residences, while Sanderson is chairman of the group.