Trafalgar Property Group has signed three option agreements to buy 14 properties for a total of £12.9m, with plans to redevelop the sites into assisted living homes.
The assisted living property developer plans to redevelop three plots in Berkshire, Kent and Surrey, subject to obtaining planning permission for each development.
The sites would provide up to 165 one and two-bedroom units, with each project including a communal lounge and dining area, a wellbeing suite and access to 24-hour care services, 365 days a year.
A breakdown shows that Trafalgar has signed an option to buy four properties for £5m in Wokingham, Berkshire, with plans to develop the site into a 51-unit assisted living scheme.
There is an option to buy four properties for £4.7m in Frimley, Surrey, and build 48 assisted living homes.
Finally, the developer has an option to buy six properties for £3.2m in Maidstone, Kent, with plans to develop it into a 60-unit assisted living scheme.
Trafalgar now has options on 27 properties across six development sites.
It has reached the final stages in an application process for planning permission in Staplehurst, Kent. The retirement village will comprise 48 one and two-bedroom apartments and a further 32 two and three-bedroom cottages.
Chris Johnson, Trafalgar Property Group CEO, said: ‘We are excited to have signed further option agreements and be advanced in the planning permission process for our site in Staplehurst.
‘Trafalgar aims to address the growing demand for specialised housing in the UK and in line with our strategy, we look forward to providing updates as to our progress in securing planning permissions, purchasing properties and developing them.’