Deputy Labour leader and shadow housing minister Angela Rayner visited the site of new McCarthy Stone retirement community Sydney Grange in Failsworth, Oldham.

Rayner, who is MP for Ashton-under-Lyne, joined local councillor Pete Davis and members of the Sydney Grange team to take a closer look at the development plans and view the construction progress.

Sydney Grange will comprise low-maintenance, energy-efficient and affordable privately-owned apartments for over-60s, which will be available as part of the Older Persons Shared Ownership programme. The government-backed scheme, delivered in conjunction with Homes England, allows older people to buy an initial share of between 10% and 75% of the market value of the home, and pay rent on the remaining share. Once the resident owns 75% there is no need to pay rent.

The properties will become available to reserve off-plan in early 2024, and the first occupants are expected to move in during the summer. The community will include maintained gardens, a communal lounge and a 24-hour emergency call system.

“Schemes such as these are able to play a valuable role in helping to meet the unmet housing need for better housing options in later life,” said Rayner. “I think it’s important that Failsworth can offer not only greater housing choice for those looking to downsize, but the chance to become part of a welcoming and friendly community of like-minded individuals.”

Martin Brown, managing director at McCarthy Stone, said: “We are currently experiencing a housing crisis in the UK, where there are not enough suitable homes to support our ageing population, and this is leading to many older people not being able to access the support and the care they need. Our Failsworth development is aimed specifically at enhancing the availability of more affordable housing in and around the Oldham area through the OPSO scheme, so retirees can enjoy the lifestyle they’ve dreamed of without having to pay the full price.”