Ayrton House is a new 60 apartment rental retirement community in Mill Hill, North London. When launched in October this year, 16 apartments across the third and fourth floors will be offered exclusively to trainee doctors and nurses from the local hospital, university post-graduates and graduate scheme students.
The scheme has been designed to generate a vibrant community by harnessing the benefits of intergenerational living, with several pieces of research highlighting how the model is physically and mentally beneficial for both the young and elderly.
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A 2019 UCL study highlighted how increased social contact for elderly people is associated with a lower risk of developing dementia, while an Ageing Research study has highlighted how intergenerational living benefits the elderly by giving them a greater sense of purpose and combatting loneliness, in turn leading to a greater life expectancy.
Further research has also demonstrated how younger people benefit from living with elderly people – by enabling them to gain a deeper understanding of the older generation, and increasing their tolerance, empathy and understanding.
The students will live at Ayrton House on short-term tenancies running until June 2025, sharing communal facilities with the development’s retirees - including full access to the gym and the same subsidised rates in the restaurant. Furthermore, the rent on the 16 student units will be approximately 50% of market value. The project therefore means that students will have access to affordable, high-quality accommodation at a time when nearly two thirds of all students are struggling to pay their rent.
At the end of the tenancies in June 2025, the 16 student units will be vacated and restored to first use state, before being let to retirees.
