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Families across England and Wales are facing significant financial burdens after inheriting retirement flats that prove difficult to sell. These properties, often restricted to buyers above a certain age, are lingering on the market despite steep discounts, leaving relatives to shoulder ongoing fees. One individual shared with the BBC that even after reducing the asking price of their late mother’s flat by £200,000, no buyers came forward. Meanwhile, mounting service charges continue to accumulate.
A particularly striking example involves Gordon Taylor and the flat his late mother, Joan, purchased in Burgess Hill. Joan bought the age-restricted property for £225,000 in 2015 from McCarthy Stone, a major developer specializing in retirement living. Her flat was part of their “Retirement Living Plus” range, which offers on-site staff, weekly home help, and dining facilities. Taylor recalls how his mother immediately fell in love with the flat when she first saw it. Joan passed away in June 2024 at the age of 96, and the property, now up for sale with a reduced price of £170,000, remains unsold. The flat’s lease stipulates that only buyers over 70 can purchase, and no serious offers have been received.
In the meantime, Taylor is burdened with charges totaling over £11,000 annually—this includes a service charge of £9,700, ground rent, and council tax. He describes the situation as a “millstone” and points to the wider market collapse for such properties, driven in part by potential buyers deterred by high ongoing costs. Corbett Court, the block in question, has 18 other flats empty under similar restrictions. Taylor also highlights the incongruity of a nearby development being built for over-60s, despite the older building sitting around 30% unoccupied.
This issue is not unique to Taylor’s case. The BBC found multiple stories across regions such as Berkshire, Hampshire, and London, where families have struggled with unsellable retirement flats and escalating fees. Some properties have been vacant for nearly a decade, leaving inheritors facing tens of thousands in unpaid charges. Descriptions from relatives range from likening the situation to “a noose around our necks” to calling it an “infuriating and heartbreaking” ordeal. Despite this, the Retirement Housing Group claims that 95% of these housing units are occupied, arguing that the proportion of long-term empties is not disproportionately high.
Experts suggest that several factors contribute to the growing problem, including high service charges, restrictive leases limiting the buyer pool, fear of communal living after the pandemic, and an oversupply of similar dwellings. Adam Cliff, secretary of the Empty Homes Network, warns that many homes stand empty due to lease contracts that effectively trap owners, with some properties unable to be sold for years. Campaigners call for solutions such as reducing or delaying service charges until a sale is completed, reconsidering the age restrictions on leases, and reassessing the planning of new retirement developments given current vacancy rates.
Taylor is determined to keep advocating for change, saying, “I am going to keep fighting, I’m not going to stop.” He believes his mother would be “pretty disgusted” if she knew the difficulties her family now faces in trying to manage and sell the home she once loved. The ongoing challenges underline systemic issues in the retirement property sector that residents and their families continue to confront
Read the full article from The BBC here: Read More
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