Pegasus Homes expands into third-party operations with later living scheme in Newbury, Berkshire

Pegasus Homes, a leading name in the UK’s later living sector, has been appointed by real estate investment manager Revcap to oversee the operational management of its development in Newbury, Berkshire.

Representing the first time Pegasus Homes has been engaged to operate a third-party owned scheme, the appointment marks an important milestone in its strategic growth, underlining its position as a trusted operating partner in the market and increasing its leading role in Built To Rent (BTR) later living.

Sought out for its strong reputation and experience in delivering high-quality later living rental communities, Pegasus Homes will lead the building’s rebrand to ‘The Regal’ and undertake extensive refurbishment to realise its full potential. In addition to the building operations and resident engagement, the expert team will also manage the marketing and lettings to optimise the community’s occupancy.

Located just a short walk from Newbury’s high street, the development is firmly aligned with Pegasus Homes’ portfolio of well-appointed communities with resident facilities that enhance community and social wellbeing, making it primed for success as a highly desirable later living destination.

Chris Powell, chief operating officer, Pegasus Homes, said: “This appointment represents a logical progression of the work we’ve been delivering for many years, utilising our end to end in-house capabilities in operational real estate to re-purpose existing assets, and serves as a testament to our established reputation. With our comprehensive operational insight into this market and clientele, along with our proficiency in managing a
high quality portfolio of premium later living communities, particularly offering rental tenure, we are perfectly positioned to realise The Regal's potential and look forward to collaborating closely with Revcap.”

Currently known as Pearl House, the community was originally developed as a joint venture by Revcap and a third party, completing in 2021. The newly refurbished building is due to open in December this year (2025).

To find out more about the scheme, call us on 01635 777 139 or email us at [email protected]