McCarthy Stone¸ a developer and manager of retirement communities, has acquired a development site in Cowbridge, South Glamorgan, from property firm Mercian Developments.

McCarthy Stone submitted and secured planning consent for a scheme of 50 retirement living apartments with communal facilities.

Leah Tattersall, land manager at McCarthy Stone, said: “It is great news to complete on this site acquired from Mercian Developments after successfully securing a first-time planning consent. We very much look forward to bringing more high-quality retirement living homes to South Wales.

Chris Towers, managing director of Mercian Developments, commented: “This strategically located site will bring forward the redevelopment of a former farmstead, which will be regenerated to deliver new retirement apartments for the elderly residents of Cowbridge and beyond that will integrate well within the local community.”

Business property advisor Christie & Co facilitated the sale.

Jordan Rundle, director, head of healthcare development, at Christie & C, added: “According to the ONS, as of 2021 the total population in Wales was circa 3.1 million, with those aged 65 years and over accounting for circa 21%, equating to approximately 650,000 people. Consequently, there is a significant opportunity for developers and operators to provide much-needed future-proof later-living accommodation in the country. McCarthy Stone’s high-quality retirement living scheme in the desirable market town of Cowbridge is another example of increased development activity we are now seeing as a trend in Wales.”

The site was sold for an undisclosed price.