A major new retirement living development in Kew has reached its topping-out milestone, marking the latest step in the delivery of a high-end later-living scheme backed by institutional funding.
The Watermark, an integrated retirement community on Melliss Avenue in Richmond, is being developed by Elysian Residences in partnership with Octopus Capital and Pension Insurance Corporation plc (PIC). The project will deliver 88 retirement apartments alongside extensive communal and healthcare facilities, with completion expected in spring 2027.
Set on a site of just under two acres near the River Thames, the scheme is designed to offer purpose-built homes for older residents combined with on-site amenities including a gym, swimming pool, library, restaurants and therapy spaces.
The development is being built by McAleer & Rushe to a design by architectural practice Collado Collins, with landscaping by Macfarlane + Associates. The project is being funded through Senior Living Investment Partners, a joint venture between PIC and Octopus Capital, reflecting continued investor interest in the UK’s later-living sector as demand for specialist retirement housing grows.
IMPORTANT MILESTONE
Developers say the location, close to Kew Gardens and the riverside, has shaped the design of the building, with the masterplan focused on maximising views and preserving existing mature landscaping along the Thames path.
Gavin Stein, Chief Executive Officer at Elysian Residences, says: “Topping out at The Watermark marks an important milestone for this project. This is a rare riverside setting, close to Kew Gardens and village.
“Our focus has been on creating well-designed homes, supported by exceptional service, shared spaces, and carefully considered amenities.
“Life here will be shaped by the Thames, from summer days along the river to quieter winter months. We look forward to welcoming homeowners and seeing the community take shape.”
Patrick Coyle, Project Director at McAleer & Rushe, says the development demonstrates the growing scale of retirement-living projects in prime London locations and reflects strong collaboration between investors, developers and contractors as the sector continues to expand.
