Reigate and Banstead Borough Council in the UK has given approval to Legal & General’s planned Inspired Villages scheme, which aims to deliver a retirement community on the site of its former head office in Kingswood, Surrey.

Work is expected to begin later this year. Once complete, the site is expected to have a gross development value of more than £215m, making it one of the largest retirement communities by value in the country.

Legal & General CEO of Later Living Phil Bayliss said: “This planning permission allows us to breathe life back into this previously obsolete scheme and maintain our legacy, while bringing jobs to local people, creating an important asset for the local community and much-needed accommodation for the over 65s.”

This project is expected to create around 175 construction jobs annually over its 6.5-year build period, and up to 80 new permanent jobs following completion.

The scheme will also see more than £170m invested into the local economy.

Inspired Villages is expected to transform the dilapidated site into a vibrant later living community with 270 specialist age-appropriate apartments. The project will also preserve the long-term future of the Grade II listed building.

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Among the plans are up to ten respite units, which will enable Inspired Villages to work with local GP practices and hospitals to help cut down pressure on the NHS and local care services.

Developed over a 15-month period in close consultation with key stakeholders, including Historic England, the Kingwood Residents’ Association, the Copt Hill Lane Association, and the council’s technical officers, the project will stretch over 43 acres.

It is expected to enhance the local area by offering on-site facilities such as a wellness centre, including a swimming pool, studio, gymnasium and tennis courts, dining and recreation facilities, as well as a small business centre and children’s nursery, which will be open to the wider community.

Inspired will open up 16 acres of parkland for the local community.