LifeCare Residences Ltd, an international retirement village operator, and VINCI Construction UK have formed a Joint Venture to develop retirement villages in London.

Richard Davis, LifeCare's CEO said: "We are delighted to be working with such a distinguished company as VINCI Construction UK on these high quality London retirement villages. The new villages are going to be hugely appealing to individuals who wish to continue living in the city, surrounded by like-minded people, in a caring and vibrant community.

"In the UK we have a rapidly increasing ageing population, and in 20 years time one third of all households will be 65 years and over. Our first London retirement village, Battersea Place, will start to address this situation, particularly acute in the capital, where the number of 80 year olds will have increased by approximately 40% within the next 30 years."

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When completed, it will have 112 luxury apartments and penthouses, with the sort of exclusive amenities that will appeal to a sophisticated Londoner; leisure complex with indoor pool, chef-run restaurant and bar, library, IT and cinema rooms, a concierge along with a boutique 30 bed studio room nursing home.

David Bowler of VINCI Construction UK added: "We are excited to be involved with LifeCare Residences in the London initiative. They are one of the acclaimed international operators, with an impressive reputation for high end properties, operational excellence and very professional care management - qualities that are essential if we are going to succeed in the London retirement market."

(CD/GK)