Audley Group and Danish pension company PFA have partnered to introduce Audley Group’s retirement living concept to the Danish market.
The new agreement will fund the development of ten retirement communities in Denmark with up to 250 later living apartments in each community.
The partnership will mark Audley Group’s first strategic development outside of the UK.
Each of the newly created retirement communities will offer owners access to central facilities, including restaurants, wellbeing centres, library facilities and hobby rooms, but also an onsite domiciliary care function.
Active in the later living retirement market for over 20 years, Audley Group runs 20 retirement villages in the UK.
PFA is a significant investor in the Moorfield Audley Real Estate Fund, which acquired Audley in late 2015.
Nick Sanderson, founder and chief executive of Audley Group, said: “PFA has been a strong and supportive partner of Audley and is well-aware of the potential of this model. In line with the rest of Europe, Denmark’s ageing population provides the ideal opportunity for Audley and PFA to combine their extensive knowledge of the later living market.”
Michael Bruhn, executive property director at PFA, commented: “Over 65s is the fastest growing section of the Danish population, and their wishes and needs in terms of housing are changing rapidly. Our market analysis points to a strong demand for retirement villages in the Danish market. We believe this is a market with very interesting perspectives.”