Glossary definition
Later Living
Purpose-built residential accommodation designed for older adults, encompassing retirement housing, extra care, and assisted living schemes. The sector is increasingly attractive to developers and investors due to the UK's ageing demographic, with demand projected to significantly outstrip supply over the coming decades.
Definition
Purpose-built residential accommodation designed for older adults, encompassing retirement housing, extra care, and assisted living schemes. The sector is increasingly attractive to developers and investors due to the UK's ageing demographic, with demand projected to significantly outstrip supply over the coming decades. Later living developments typically achieve premium sales values per square foot but require specialist design, longer sales periods, and are often funded through a combination of senior debt and institutional equity or forward-funding.
See also
Closely related terms.
Build to Rent (BTR)
Purpose-built residential accommodation designed specifically for the private rental market rather than individual sale, typically held as a single investment by an institutional owner.
Forward Funding
An arrangement where an institutional investor acquires a development site and funds the construction costs directly, with the developer retained under a development agreement to deliver the scheme.
Absorption Rate
The rate at which available homes or units are sold or let in a given market over a specific period, usually expressed as units per month.
Development Appraisal
A financial model that calculates the viability of a proposed development by comparing the gross development value against total project costs including land, construction, finance, fees, and a target profit margin.
Further reading
Guides that touch this term.
Guide
How Does Development Finance Work? A Complete Guide for UK Developers
A ground-up guide to how development finance is structured in the UK, covering loan mechanics, drawdown schedules, monitoring surveyors, and what lenders look for in your application.
5 min read readReadGuide
UK Development Finance Market 2026: Rates, Trends and Outlook
A comprehensive overview of the UK development finance market in 2026, covering current interest rates, lender appetite, emerging trends, and what developers should expect over the coming 12 months.
9 min read readReadGuide
The Capital Stack in Property Development: How to Structure Your Funding
A comprehensive guide to understanding and structuring the capital stack in UK property development, from senior debt through mezzanine to equity contributions.
9 min read readRead
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