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Herbert J. Sims & Co. was engaged recently by a major U.S. equity firm to evaluate a senior housing opportunity in London, England. The Sims team, led by Jeff Sands and Curtis King, studied the evolution of senior housing in the U.K. and had the opportunity to travel to London and meet many of the major players in the U.K. market. They also toured a number of U.K. retirement communities. Their overall impressions were as follows:
While there appears to be a strong potential market for retirement villages in the U.K., the product U.K. type is relatively new. One of the biggest challenges for senior housing developers will be to educate the public, lenders and zoning officials on benefits of senior housing and especially those providing a continuum of care.