Knowle relocation project: and failing to sell luxury flats

PegasusLife are in the business of selling high to high-earners nearing or at retirement age - or, to put it another way, "persuading retired people to trade in the equity in their home for the lease of a retirement flat":
Futures Forum: Knowle relocation project: PegasusLife appeal >>> deadline today for submissions >>> the issues
Futures Forum: Knowle relocation project: of Paradise Papers and specialising in vulture funds

Actually, new-builds are a bad investment, so it seems:
Futures Forum: Knowle relocation project: Why do 'half of new-build retirement homes sell at a loss'?

Especially in the retirement market:
The hidden costs of retirement properties - Telegraph
Incredible story of how McCarthy & Stone retirement flat in Clacton-on-Sea fell from £250,000 to £60,000 in eight years - The Sun

Meanwhile, in London, the high-end market is not doing so well, as this report from a couple of weeks ago shows:
Ghost towers: half of new-build luxury London flats fail to sell | Business | The Guardian

As for East Devon, a correspondent notes that pressure is also coming from Westminster to stop building so many luxury flats which aren't selling:

"The government have put out to local authorities that they want to see more investment in heritage. 
Basically none of these expensive developments are selling and they are not looking good. 
So authorities can change Local Plans if it means investing in heritage where they think realistically apartments won't sell..."

See what the Overview committee at East Devon has to say on the matter:
Overview committee minutes - East Devon

Although both District Council and developer would like it otherwise:
Futures Forum: "Is Sidmouth to become simply a ghetto for the super-rich and a cash-cow for the Council? "
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