Cheadle Royal, Royal Crescent, Cheadle, Greater Manchester, SK8 3GP, UK

Project Lakeside

Asset description

Prime later living development opportunity of 4.67 acres situated within an affluent commuter belt of South Manchester. Additionally, there is an opportunity to acquire a potential further 1.03 acres directly south of the site.

Lakeside is set within a local area comprising a mixed use area with extensive amenity space, set in approximately 70 acres of mature parkland, close to the attractive village of Cheadle. Local amenities include David Lloyd Leisure, Sainsburys, John Lewis and local restaurants.

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Attributes

Year built

2024

Land area gross

5 acres

Media

Investment highlights

Opportunity to develop later living village in a sought after South Manchester location
Level site with prominent road frontage
Affluent catchment
Under supply of care home beds and IRC units in the catchment
Opportunity to acquire further land to the south (c 1 acre)

Within a 10-minute drivetime catchment, there is:

Large target market of 20,000+ over 75s
Average house prices 20%+ higher than the national average
Twice as many over 65 households have an annual income exceeding £50,000 compared to the national average
80% of seniors are considered medium-high affluence
Large undersupply of 'market standard' care home beds
Circa 300 unit undersupply of IRCs based on a penetration rate of 1% over 65s