Midlands contractor McPhillips (Wellington) Ltd has secured a contract to build a £20 million retirement village in Newport, Shropshire.
- The new development will feature 61 apartments and 15 bungalows, aimed at providing modern housing solutions for retirees.
- The project is spearheaded by Untold Living, a firm supported by a private equity fund, which has secured planning permission and financial backing.
- Construction is set to begin this month, with the aim of addressing housing shortages in the local borough.
- The development is expected to benefit the local economy, freeing up larger homes and offering job opportunities.
Midlands-based McPhillips (Wellington) Ltd is poised to undertake the construction of an ambitious £20 million retirement complex in the town of Newport, Shropshire. This venture comes following the award of a contract by Untold Living, marking an expansion of their real estate efforts in the region. The development, situated off the A41, is designed to include 61 apartments and 15 bungalows, addressing the growing need for modern and accessible housing for retirees.
Untold Living, backed by a private equity firm from London, has successfully navigated the planning process and secured a £26.4 million loan that not only covers the cost of construction but also ensures the smooth progression of the project. The Newport site will become the third asset in Untold Living’s portfolio, following a similar community initiative in Wiltshire and the establishment of an in-house CQC-registered care service. Groundbreaking is imminent, as construction is scheduled to commence within the current month.
The strategic vision presented by Untold Living’s chief executive, Russell Jewell, highlights the intrinsic value of engaging local companies like McPhillips, given their longstanding history and integration within the community. “It’s important to us that Newport and the wider surrounding community see the benefit of our investment here,” Jewell stated. He emphasised the critical shortage of quality, small-scale housing options in the region, underscoring the project’s potential to alleviate this issue. The development is positioned to not only support retirees with downsizing options but also to offer 24/7 support services to those who require it.
There is a broader economic implication of such projects, as highlighted by McPhillips director, Chris Walker. With McPhillips’ local workforce and well-established supply chain, the project is set to deliver tangible benefits to the Newport area. Walker mentioned their eagerness to commence the development, reflecting on the environmental and community advantages of leveraging local resources, especially considering the firm’s proximity to the project site.
McPhillips, fortified by a team of over 240 employees based in Telford, has recently completed significant projects such as the refurbishment of Telford Fire Station, showcasing their capability and commitment to high-quality construction endeavours within the local area.
This development marks a significant step forward for retirement community solutions in Newport and will contribute substantially to the local community and economy.
