Retirees: The wonders of water

By Andrea Watson
Posted: 2010/07/09

RETIREES are doing all sorts of things they never used to when it comes to property choice in later life. One trend that is a reversal of the traditional norm is to head not for the coast bu

Property consultancy Cluttons says London's South Bank is proving very popular, with retirees looking for waterside flats in the thick of the buzzing cultural scene that has developed around the Globe Theatre, Tate Modern and the QEII concert centre.

Partner James Hyman said: "Traditionally this stage of the cycle involves downsizing to release equity and relocating to a more rural or coastal setting. However, we have seen a growth among so-called empty-nesters who are postponing their retirement dates and seizing the chance to return to London to rediscover a lifestyle they had at the start of their career.

"Many are looking to trade in their large homes and gardens for apartments with good internal amenities and security such as porterage and based in locations easily accessible to the cultural attractions London has to offer."

He added: "Waterfront living has become increasingly popular over the past five years. Some of the most innovative and aesthetically pleasing developments in recent years have been built on the river."

While the attractions of London living are not for everyone, the appeal of water definitely is.

Downsizers Ray and Jenny Hall are moving the other way, out from their six-bedroom Georgian house in central London, and they too have been captivated by water. The couple have bought a home at The Boatyard, a development by the award-winning Morgan Restoration company in Kent.
Ray, a semi retired architect and planner, said: "We need to downsize - it is the next stage in our lives together. We were drawn to The Boatyard because it has got the 'wow' factor; it has been specifically designed to enable everyone living there to enjoy the River Medway.

"It has the right amount of space, a south-facing garden, views of the river from every room and a layout that will enable us to get to know our neighbours. The Boatyard is a new-build but I am expecting it to become a form of river legacy for Maidstone and the community."

The Boatyard includes just nine three-bedroom houses and one one-bed house, all overlooking the Medway. Company founder Barry Morgan said: "It has a very distinctive design, unlike other developments in Maidstone, and it is in a prime location, overlooking the Medway and 10 minutes from the town centre."

Properties come with gas-fired underfloor central heating, quality finishes and bespoke kitchens and en-suite bathrooms. Living areas are pre-wired for wall-hung TVs and surround sound systems. All houses at the Boatyard include a private terrace, with half the homes offering a large private 50ft rear garden, a rare addition to riverside property. Moorings are available separately to buyers.

Situated near the heart of Maidstone, the location ensures a multitude of lifestyle choices on the doorstep. Prices start from £210,000.

In Scotland is a similarly attractive waterside development, Kip Village in Inverkip near Greenock.

Launched in April, the luxury properties are perfect for sailing enthusiasts and people who relish the great outdoors and peace of a home on the water yet with access to Glasgow.

Remaining properties include one townhouse on the promenade stretching into the Clyde Estuary as well as a three-bedroom penthouse. The three-bedroom townhouse offers flexible living space with state-of-the-art appliances and luxury finishes. The penthouse has two terraces with magnificent views across the water.

All properties are ready to move into. Estelle Dougan, sales manager of developer Manor Kingdom, said: "Kip Village is a world away from busy cities but within easy reach of them." Prices at Kip Village start from £150,000.

INFORMATION:
The Boatyard: 01322 866 800/ www.morganrestoration.co.uk/
Kip Vllage: 01475 529 700/ www.manorkingdom.com