Billionaires Row Retirement

Work is due to begin on a luxury residence for over-65s set in woodland in the Hampstead street known as "Billionaires' Row".

Wates Construction has signed a deal with retirement living company Riverstone to build The Bishops Avenue, a 22,084m2 luxury residence at 56, The Bishop's Avenue.

The final agreement plans for 93 apartments with a mix of one, two and three-bedroom flats, were approved by Barnet Council in March.

The residence 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 be on-site care staff to support residents, should they require it.

Environmental features include a pond and regenerated woodland, bio-solar roof panels, and electric vehicle charging points for every parking space

Enabling and basement works are now scheduled to start later this month, with the main work beginning in November 2023 for 86 weeks.

The project is focused on an all-electric energy strategy targeting a net zero carbon plan.

Wates said "pioneering modern methods of construction" will be deployed to develop the site, including the use of precast façade systems, bathroom pods, utility modules and bespoke joinery.

Dean Rosewell, regional director, Wates Construction London Residential, said: “This development represents the very best in later living provision, raising the bar for the sector. What really stands out about The Bishops Avenue scheme is the importance that has been placed on putting future residents at its heart – from first-class facilities to the design of the apartments and communal spaces.”

"We are proud to be partnering with Riverstone to bring their ambitious plans for this this luxury later living community to life, drawing from our expertise in delivering complex, high quality and sustainable residential schemes across prime central London locations.”

Paul Vesty, chief development officer of Riverstone comments; “The residence marks an important milestone”, as the company develops its mix of prime London locations and wide-ranging amenities and “expand our expert team to include sector-leading sustainability and social value credentials".

"Our partnership with Wates will enable us to bring our third residence to life in an outstanding location in which we’re confident will see significant demand for this type of exceptional later living offering.”

By Nathalie Raffray

Picture Credit: Wates