Riverstone, a provider of exceptional London living for over 65s, has announced the acquisition of its third residence on The Bishops Avenue by Hampstead Heath.

Riverstone has acquired a 2.5 acre-site on The Bishops Avenue with the ambition of setting new standards for sustainability and the creation of social value in the integrated retirement community sector.

The Bishops Avenue acquisition follows the launch of Riverstone’s first two residences at Riverstone Kensington and Riverstone Fulham and continues the roll-out of a programme across prime London locations.

At The Bishops Avenue, Riverstone is bringing a strong commitment to sustainability and social value, with the 230,000 sq ft project focused on an all-electric energy strategy targeting a net zero carbon plan. There will be habitat creation and improvement to the mature landscape, together with green walls to enhance biodiversity, renewable energy generation with bio-solar roof panels, electric vehicle charging points for every parking space, heat recovery technology, heightened thermal performance and rainwater harvesting for landscape irrigation. Modern methods of construction will also be used to reduce waste and time on-site. The Bishops Avenue will also provide school and college workshops, Places for Progression into Employment, apprenticeships during construction and opportunities for work experience.

Paul Vesty, Chief Development Officer of Riverstone, comments: “The acquisition of Riverstone’s third residence marks another important milestone as we prepare to open Riverstone Kensington in June and Riverstone Fulham late summer 2022.

“We look forward to expanding Riverstone’s mix of prime London locations, wide ranging amenities and expert team to include sector-leading sustainability and social value credentials.

“Bishops Avenue sits adjacent to Hampstead Heath, and we are confident there will be significant demand for this type of exceptional later living in this outstanding location.”

The demand for retirement communities is expected to grow in the next five years, with senior living advisers Knight Frank forecasting a 22% increase in demand compared to the expected 9% increase in later living housing provision.

The Bishops Avenue Riverstone residence is a landscape-led scheme in a woodland setting with a contemporary approach to the Arts and Crafts local heritage. Architects RG&P and designers Bowler James Brindley have created an exciting and unique building design celebrating quality detailing, craftmanship and the use of traditional materials.

As with Riverstone Kensington and Riverstone Fulham the landscaped gardens at The Bishops Avenue residence will be designed by Andy Sturgeon, optimising the natural setting and enhancing biodiversity, with targeted bird, mammal and insect habitats, including a nature pond and regenerated historic native woodland.

Amenities will include a hair and nail salon, spa with sauna and steam rooms, swimming pool and vitality pool, library, club room, restaurant and bar, cinema, exercise studio and ballroom. There will also be bespoke on-site professional care with highly qualified staff to provide support and care to residents should they require it.

The first residents are expected to move into The Bishops Avenue Riverstone in 2025.