No exit fees and strong demand make Fitzjohn’s by Pegasus a worthwhile investment in the later living sector
Fitzjohn’s by Pegasus is a new development of luxury retirement apartments in Hampstead, offering a unique opportunity for individuals and couples looking to make the move into a later living development. According to recent market research, the later living sector is experiencing significant growth, with increasing demand for high-quality retirement living options across the UK.
This development at No.79 Fitzjohn’s Avenue, has apartments available for immediate occupation for those over 60. A recent report by Savills states that the average price of a later living property in the UK is 8% higher than the average price of a non-later living property. This demonstrates that there is a strong appetite for high-quality later living accommodation. As of 2021, there were an estimated 800,000 people living in later living communities in the UK, according to the UK Care Guide. This number is expected to grow in the coming years, as more individuals seek out retirement living options.
There is a stereotype that later living developments can have hidden fees. One unique aspect of Fitzjohn’s by Pegasus is that there are no exit fees, one of the only later living developments to offer this. This means that residents can sell their apartments without incurring any additional costs, providing them with greater financial freedom and flexibility while benefitting from selling at the higher price points that later living schemes pose, particularly as demand is only set to increase.
Fitzjohn’s service charge structure can help provide greater financial stability and predictability compared to owning a traditional home. Service fees go towards staff costs, utilities, contracts, maintenance and services, mechanical and electrical plant maintenance, insurance and fees which can help remove the worry and admin. The level of service at Fitzjohn’s is tailored to resident’s needs, meaning that Pegasus want residents to have a say in how their service fees are spent.
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