Henry Lumby, the Chief Commercial Officer at Auriens

Chief Commercial Officer at Auriens, Henry Lumby is developing a future in independent luxury later life living. Later living remains a nascent sector in the UK, trailing behind the models in South Africa, Australia and New Zealand. LUX talks to Lumby about his vision for independent later living in Auriens Chelsea

LUX: Property is often said to be a people business, how have you grown your network as your career has evolved?

Henry Lumby: I began my career in residential agency, which was a great base from which to start growing my network and developing a strong understanding of the residential market as a whole.

However, early exposure to later living developments sparked my interest and from then on, I was deeply committed to working within the sector and championing it in the UK, where it was very much in its infancy.

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My passion to change the way in which later living and retirement communities are seen in this country led me to look overseas, where the sector is much more mature. Through travel to Australia, Europe and the US, I was able to grow my network on a global scale and across the sector’s various fields, making connections in investment and development through to marketing and operation teams. I value all the connections I have made throughout my career and think collaboration and sharing of insights are key to the success and evolution of the sector.

The lobby at Auriens Chelsea, offering residents ‘a serviced, secure home that has all the benefits of a five-star hotel’

LUX: How did you leverage this range of experience to offer a model for investing in the later living sector?

HL: I benefited from working on the ground within later living developments early on in my career and from being able to pinpoint the shortcomings of the product and offer at that time. I was able to identify how the model needed to be adapted and improved upon, so that residents would be proud to call a later living community home and the alignment between investors and residents in later living communities would be improved.

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Some of my greatest learnings have come from meeting operators, funders and residents in overseas communities, but also through learnings during the early days of my career, many of which have been instrumental in the choices we have made at Auriens. For instance, our apartments incorporate taps that are specifically designed to be suitable for people with arthritis; I saw how successfully this had worked on a Dorset scheme delivered in 2010 and so included it in the specification for Auriens whilst I was a consultant for the development at Savills.

When working with Helical in a management consultancy position, I was preparing their Renaissance Villages product for sale to Legal & General and looked at innovations taking place within the Australian sector. Their focus on hospitality and a first-class service offering had proved very successful with residents and so I integrated that into the Renaissance Villages business model.

The residents lounge at Auriens Chelsea

LUX: Is there a successful formula for high end later living?

HL: To create a successful later living community, it must allow its residents to age in place and thrive whilst doing so. Operating at the higher end of the sector means that residents expect world-class amenities, seamless service and peace of mind that their homes and wider environment are being maintained to the very highest standards.

However, the most important aspects of our role are in the creation of a community at Auriens Chelsea and affording our residents an enviable lifestyle that they want to recommend to their friends. We strive to ensure that every aspect of our residents’ wellbeing is considered, from their mental and physical health to their social life, creating opportunities for them to naturally forge lasting relationships, both with other residents and also with the Auriens team.

Later living is still a nascent sector here in the UK, whereas overseas, particularly in South Africa, Australia and New Zealand, they have developed very well-established, successful models that the UK can follow and aspire to.

Auriens is located in the heart of London’s Chelsea village just behind the Kings Road

LUX: What does Auriens do differently to others in the sector?

HL: The wellbeing offering at Auriens Chelsea is second-to-none. We developed a pioneering program in partnership with the team at the Kyros Project, which is led by ex-athletes and top nutritionists, including Gideon Remfry, one of the top 25 trainers in the world according to Men’s Fitness, and Aidan Goggins, creator of the Sirtfood diet. All our residents are offered an assessment with the wellbeing team when they move in, who then create a completely bespoke fitness and nutritional plan that looks at all aspects of health including brain health, gut health, sleep and physical mobility. The results are truly remarkable. We are creating our very own blue zone!

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We also offer care at various levels to our residents through Draycott Nursing & Care, an Auriens Group-owned company. Being able to scale our care offering and give residents complete convenience and flexibility supports our residents to age well in place.

Many later living communities in the UK only offer the chance to either purchase or rent an apartment, whereas at Auriens, we responded to market demand and adapted our model so that residents now have the choice of purchasing their apartment or long-term rental.

Auriens ensures that later life living is as comfortable as it is entertaining, providing residents with a luxury private cinema

Since introducing the purchase option we found that prospective residents want to make a long-term commitment and are far more familiar with home ownership. Additionally, our ‘try before you buy’ service is a very popular way to sample life at Auriens and the exceptional service and friendly community we offer.

LUX: Who do you most appeal to most in terms of buyer, demographic, needs, wants, etc.?

HL: Many of our buyers are local to the Chelsea area and want to stay here to be close to friends and family and to be part of the ‘community within a community’ at Auriens. Whilst they want to continue to live independently, their family homes have often become unmanageable and they are looking for a serviced, secure home that has all the benefits of a five-star hotel. We see a mix of single buyers and couples and most are aged over 70.

LUX: Let’s talk about location: how important is it to your purchasers and their families?

Residents enjoy luxury facilities, such as the pool and wellness area at Auriens Chelsea

HL: Location is very important to our buyers. We recently conducted a survey on what the older generation look for when moving home and the results showed that 64% of those aged over 65 highly value living near cultural or leisure attractions. Given that our residents are often moving from close-by, they know Chelsea very well and want to enjoy all the benefits that our location on Dovehouse Street, moments from the Kings Road, offers. The area is known for its excellent shopping, restaurants, cultural destinations and green spaces, as well as catering to practical needs with several leading hospitals found throughout the borough.

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LUX: What is to come for Auriens, are you looking to acquire more sites?

HL: It has been a successful start to 2025 at Auriens Chelsea, as we have recently agreed a number of apartment sales and rentals, demonstrating a strong sense of positivity and movement in the market. The wider Auriens Group is primed for growth this year and beyond, with strong financial backing in place and a dynamic leadership team that is committed to the scaling of our platform and expansion into new sites in the UK and potentially internationally. Plans for our second community are underway in Weybridge, Surrey, on a beautiful site adjacent to St George’s Hill private estate.

aurienschelsea.com

The Library in the Riverstone Kensington

Penny Hughes is the Chairman of Riverstone, a group that is changing the senior living sector. Samantha Welsh speaks to Hughes about why Riverstone is different from other retirement home models.

LUX: You have a track record of leading world class consumer brands, across diverse industries, Coca Cola and Aston Martin, for example.  What qualities have you come to admire in leaders?
Penny Hughes: I strongly admire tenacity, drive and enthusiasm, but most of all I admire leaders with the ability to evolve and overcome change. At the start of my career I had no female role models. As a leader, and through experience, I have moved to being a positive campaigner for diversity, taking decisions that result in enhanced diversity & inclusion.

LUX: What has driven the transformation of the senior living sector from Cinderella to a sweet spot in the alternative property assets class?
Penny Hughes: Internationally, 5-7% of the market is focused on later living, while in the UK it is less than 1%. It’s not just a new asset class, it’s an undiscovered one. We are getting older; populations are growing and we are living longer. Research indicates that over 65s want to downsize, they want to release equity to enjoy life, and, most importantly, age in the places they love. Growth in this sector is adding value in creating options for the over 65s to ensure they can live the life they want to live.

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LUX: Are institutions also meeting ESG targets through investing in later living?
Penny Hughes: Many institutions do not place enough emphasis on the ‘Social’. The pandemic spurred a renewed focus on community living. Already Riverstone is in discussions with local schools to provide engagement for our residents – such as reading clubs with school children – and learning opportunities for the next generation.

LUX: What are the public policy gains offered by the retirement home model?
Penny Hughes: Policy makers are opening their eyes to how bespoke later living schemes can help alleviate pressures on the NHS and the social care system. Our approach aims to focus on prevention rather than cure, yet we are also able to offer on-site GP consultations and prescriptions to residents’ doors should our residents wish to access this service.

Riverstone Fulham Lounge

LUX: Has the pandemic offered new opportunities and ways of repurposing vacant property?
Penny Hughes: The pandemic has placed a heightened importance on our homes; there is a clear focus on what we need and what we don’t. For many of our future residents, they are at the stage in their life where they want to downsize, release equity, and live within a community that encourages healthy and active lifestyles. This further benefits the wider community as it unlocks appropriate and much needed housing for all generations.

LUX: Given the governments targets for delivering new homes, how do you compete with residential developers?
Penny Hughes: We’re living longer. By 2030, one in five people in the UK (21.8%) will be aged 65 or over (Age UK). The Riverstone offering, in prime central London, is meeting the demand for home ownership among the over 65s, which research indicates remains high, whilst also offering residents their own slice of luxury.

LUX: Your communities are disruptors, you celebrate metropolitan living, are you the new place-makers?
Penny Hughes: Metropolitan living is captivating. There is always something exciting going on, and most definitely keeps people active. I wouldn’t say we are place-makers as we choose vibrant established locations, however, we provide a wealth of private amenities and outstanding facilities, such as our gardens, curated by Chelsea Flower Show landscape and garden designer Andy Sturgeon, and our restaurants for the whole community

The Garden at the Riverstone Fulham, landscaped by Andy Sturgeon. Herb garden by Jekka McVicar

LUX: ‘Live the life you want’ – why are the world’s Baby Boomers so demanding and what do they want?
Penny Hughes: We are creating a place that is welcoming and accessible, not too formal. We are also creating The Riverstone Club, which will comprise state-of-the-art wellness spaces including a pool, spa, treatment rooms and yoga studio, alongside cinema, library, espresso bar, and business suites for personal and private affairs. Equally we don’t want people to feel intimidated if they want their privacy, so they can enjoy the chef’s table, or dine with friends.

LUX: What differentiates the Riverstone brand from other equally recognisable names?
Penny Hughes: This is a new asset class for prime central London, there aren’t many operators within this sector. Our competitors are either operating through rental models, or locations that appeal to a different audience.

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LUX: How does the apartment ownership structure assist in managing wealth transfer?
Penny Hughes: 75% of our future residents currently own a large home. Riverstone’s model presents an option to downsize and free up equity. Each apartment is sold with a 150-year lease. A monthly fixed membership fee is charged during residents’ occupation, and this covers staffing, repairs, security, maintenance and general operating costs. Additional care and other services are charged separately on a pay-as-you-go basis. When looking to sell a Riverstone apartment a deferred fee (a percentage of the sale price) is payable when the property is sold. This management fee is a new model for the UK, however widely used in New Zealand and Australia.

Riverstone Kensington Yoga studio

LUX: What is the long term strategy for the group?
Penny Hughes: We are continuing to explore new central London sites as part of our plan to deliver a £3 billion portfolio. We have been very pleased with the reception for our Kensington and Fulham developments after they launched recently.

LUX: And can you share any well-being tips with us?
Penny Hughes: We should all – at every age – dedicate quality time to our own health and well-being. My passion in life is having a purpose and making a difference. I don’t do well sitting at home! Activities such as going to the gym, or paddle boarding on the river help give me space to unwind, whilst also being a fun form of exercise.”

Find out more: riverstoneliving.com