McCarthy & Stone, which buys land and then builds, sells and manages retirement homes, has been hit by the pandemic as the property market basically came to a halt during lockdown. BUT If you look at an Assisted Living property (cleaner for one hour/week and lunch available etc.) The Times today (September 10 2016) reports the research into re-sale values recorded on the Land Registry for retirement properties. 1. After McCarthy & Stone were featured on Channel 4 Dispatches programme about their selling tactics, the producer of this programme contacted me for further comment. From exceptional levels of quality and safety — to ease of maintenance over time, we are firmly committed to helping our clients and partners achieve the short- and long-term strategic goals of every project we do. With over 51,000 apartments built nationwide, it provides an impressive 70% of the UK’s total number of owner-occupied retirement and assisted living properties. Unhappy McCarthy & Stone retirement flat- rent suddenly increased Liz The only legal way a ground rent can increase is via the terms of the lease. We use small files called cookies to personalise your experience of our website, improve its performance and show you more relevant content. September 2010 sold for £177,950 Do Mc&S keep to their obligations? Many thanks for your review, we always value our customers' time and effort when sharing their first-hand experience living with McCarthy & Stone. Wider local housing market prices fell 0.44% in the period, 2012 McCarthy flat currently marketed at £130,000 When McCarthy & Stone built the development, it sold the flats as leasehold and retained the freehold. When we use the information from these cookies it is grouped together and therefore anonymous. Type of Company. We have 23 properties for rent listed as: house mccarthy stone retirement, from £196. Flat sold twice before: You can use this 'Manage settings' feature to switch on or off certain types of cookies, although some cookies are necessary for our site to work correctly. History. Could the financial position of the freeholder have any bearing on leasehold values? As specialists solely in McCarthy & Stone managed retirement apartments, you can be confident that everything you need is taken care of. 100 Holdenhurst Road,Bournemouth, Dorset BH8 8AQ. The Times September 10 2016) reported, research by the Campaign against Retirement Leasehold Exploitation into re-sale values. Annual maintenance doesn't seem too bad, maybe because it's an older property. London N1 9AG, Copyright © 2020 Leasehold Knowledge Partnership | All rights reservedLeasehold Knowledge Partnership Limited (company To deal with all legal matters, we will recommend you a panel of solicitors that is familiar with retirement properties and has regularly worked with McCarthy & Stone. September 2010 for £149,000 The information might be about your online behaviour or preferences, the type of device you are using, or may be used to ensure the website works properly. The precipitous fall since March has pushed them significantly below net current asset value per share. About us McCarthy & Stone is the UK’s leading developer and manager of retirement communities. Los 22%, Recent McCarthy flat currently resale at £119,950 At McCarthy and Stone, another major private provider of retirement homes, service charges for a two-bedroom flat in a Cheshire complex, with a resident manager, are £404.28 a quarter. It was formed by John McCarthy and Bill Stone, who became partners in 1975, and focussed on building retirement properties … Though these cookies cannot be switched off, you can set your browser to block or alert you about them, but please be aware that this will stop some parts of the website from functioning as intended. The family that founded McCarthy & Stone, the heavily indebted retirement homes builder poised to go into administration, is preparing a third tilt to buy back the company. When you buy a resale apartment, you can start your retirement lifestyle in one of our pre-owned homes early. loss of £25,000 (14% minimum), July 2012 another Flat sold for £179,950 It was formed by John McCarthy and Bill Stone, who became partners in 1975, and focussed on building retirement properties … But, it says in a new report, older people wanting to downsize find their options limited, and moving expensive. The article, headed “Exit fees and poor resale values: the uncomfortable truth about retirement homes”, quotes LKP patron Sir Peter Bottomley, who earlier this week established the All Party Parliamentary Group on leasehold and commonhold, saying: “People who buy retirement properties should expect that they will hold their value; too often this is not the case.”. 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