Home Market Updates ARCO responds to leasehold reforms and ground rent ban

ARCO responds to leasehold reforms and ground rent ban

by Joe Caretalk

Responding to MHCLG’s announcements on leasehold reform and ground rents, Michael Voges, Executive Director of ARCO said::

‘Developing the new generation of retirement communities that Britain needs was never dependent on ground rents. And it has always been clear that leasehold legislation – some of which dates from the 18th century – is not ideal for providing housing, leisure, care and support services in the 21st century. We welcome the opportunity to work with the government to develop bespoke alternatives that work better for residents and operators of retirement communities alike.’

“The future of retirement communities in the UK is in providing personalised and supportive services which enable older people to stay independent for longer –  that’s why ARCO and its members have been advocating for a new tenure model for the sector for years now. If the Government makes the most of the opportunity this could be the start of a revolution in housing and care: it’s time to level-up for older people.”

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