Audley Group and Elysian Residences complete landmark merger to create the UK's sector-leading retirement living platform

The combination of two of the UK's most respected retirement living operators creates a portfolio of more than 30 communities, establishes AEM Living as the undisputed leader in UK later living, and builds a platform uniquely positioned to meet the extraordinary demand that lies ahead.

A transformative moment for UK later living

The merger between AEM Living and Elysian Residences, announced in late 2024 and completed this month following regulatory clearance, marks the most significant consolidation event in the UK retirement living sector in over a decade.

The combined group brings together three complementary brands — AEM Living's Audley Villages, the recently launched Mayfield Villages, and Elysian Residences' portfolio of premium London and South East communities — creating a business operating across more than 30 retirement communities with over 1,000 employees nationwide.

Complementary portfolios, shared values

While both businesses operate in the premium retirement living space, the combination is notably strategic rather than simply additive. Audley Villages brings 20 established communities and four decades of operational heritage. Mayfield Villages contributes an exciting mid-market growth brand with a proven model and a strong London development pipeline. Elysian Residences adds a concentrated portfolio of architecturally distinctive communities in high-value urban locations, with particular depth in Central London and the Home Counties.

 

"This combination was not about scale for its own sake. It was about bringing together three brands that share an absolute commitment to resident experience, and creating a platform capable of meeting the scale of the challenge — and the opportunity — ahead of us. The UK needs tens of thousands more retirement homes. We intend to build them." — James Harrington, Chief Executive, AEM Living

 

A platform built for growth

The merged group enters 2025 with a development pipeline comprising nine new communities at various stages of planning and construction, representing an estimated end value of over £800 million. The Brent Cross development — Mayfield Villages' second site and its first in London — is expected to complete in 2027, delivering 147 homes within one of the capital's most ambitious regeneration schemes.

Elysian Residences' two pipeline sites, in Hampstead and St Albans, are expected to enter construction later this year, adding a further 180 premium homes to the combined group's forward programme.

Chief Financial Officer Sarah Beaumont noted that the merger significantly strengthens the group's financial position: "The combined balance sheet gives us the firepower to accelerate our development programme, access more attractive financing terms, and invest in the operational infrastructure our residents and people deserve. We are a materially stronger business today than we were yesterday."

Care at the centre

Both businesses share CQC registration and ARCO membership, ensuring that care quality standards are maintained consistently across the combined portfolio. Dr. Patricia Yuen, Chief Care Officer, will lead an integration workstream focused on care governance, ensuring that the enhanced scale of the group translates into enhanced care capability rather than diluted standards.

"Our residents chose their home with us because they trust us to look after them — now and as their needs evolve," said Dr. Yuen. "That trust is the foundation of everything we do, and nothing in this combination changes that commitment."

A defining moment for the sector

The merger arrives at a moment of significant policy focus on the UK's shortage of appropriate housing for older people. Parliamentary committees have drawn attention to the chronic undersupply of later living homes and the barriers that prevent older homeowners from downsizing — including stamp duty, planning complexity and a simple lack of suitable product.

"The sector has been making this case to government for years," said Harrington. "What this combination does is put a business of sufficient scale in the room — one that can demonstrate, with 30 operating villages, 97% resident satisfaction scores, and a development pipeline measured in hundreds of millions of pounds, that this is a credible, deliverable solution to a real national challenge."

AEM Living will continue to trade its three brands independently, preserving the distinct positioning and community character of each. The group's combined headquarters will be located at 1 Knightsbridge Green, London.