@Floradora9 - McCarthy & Stone have asked us to pass on the following: “While the value of retirement housing is more than simply financial, the majority of our properties sell for more than they were bought for. When we use the information from these cookies it is grouped together and therefore anonymous. I told him I see a bigger story than the initial sales of the units which is the resale values of these properties. If that is a concern, it’s important that buyers and their families understand the limit of the support McCarthy Stone can offer. They make grim reading. July 2008. sold for £166,261 Wider local market fell 13% in the period. It seems to take ages to get things done in a reasonable time. McCarthy & Stone’s ground rents are fair and stable and set at the outset of the development. McCarthy & Stone bosses take pay cut to preserve cash Pui-Guan Man 25/03/2020 | Investment/finance Print Download Retirement home developer and manager McCarthy & Stone’s board and leadership team have agreed to voluntarily reduce their basic salaries by 20%, as part of cash-saving measures during the coronavirus pandemic. Secretariat of the All Party Parliamentary Group on leasehold reform, September 10, 2016 // by Sebastian O'Kelly. Loss 27%, Northgate Court, Biggleswade, Bedfordshire, Recent McCarthy flat currently marketed for resale at £164,950 The Freeholder is now Fairhold 7, purchasing 56 flats within a short period after completion. John McCarthy and Bill Stone became partners in 1961, and in 1977 they built their first retirement housing development in Hampshire.Subsequently they ceased other building work to concentrate on developing specialist housing for elderly people. Loss 8.5%, One neighbour did better October 2007 for £172,351 Plus they take an eternity to sell. Just scrap the stamp duty on any property … With an in-house team handling the sale, we take the stress out of the buying and selling process. Sold £125k – 2011. McCarthy Stone properties are designed for active independent living. McCarthy & Stone accounted for about 70% of specialist retirement housing built in the UK last year, and it says it is in a strong position given the demand for such properties. My last newsletter explained that McCarthy and Stone was valued by Mr Market at less than net current asset value (I bought at 72p last week).The main reason for the plunging share price is fear among investors that MCS will, for months or years, not be able to sell its apartments. Mr McCarthy states that the Matthews had already begun the process of selling their house in Emsworth before contacting Churchill. I asked at the time was this a conspiracy as the 3 flats increased 31% each. These values are used as a guide to conduct our business, from key decisions to day-to-day activities. These values are widely communicated across the business to ensure alignment with strategic aims and to actively encourage a culture that promotes teamwork, involvement and empowerment at all levels of the Group. loss of £25,000 (14% minimum), July 2012 another Flat sold for £179,950 C urrently on the resale market is a two-bedroom McCarthy and Stone apartment in Burlington Court in Bridlington on the Yorkshire coast for £59,950. ... Glassdoor has 33 McCarthy & Stone reviews submitted anonymously by McCarthy & Stone employees. 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. They do not hold their value, in our city resale's often go for as much as 50 percent less their new build price. The most expensive flat was sold for over £188k not £180k, Flat 40 One Bed Dearest 2 Bed Flat – sold new 2004 – £187k. When you buy a resale apartment, you can start your retirement lifestyle in one of our pre-owned homes early. We depend on individuals for the majority of our funding. The second hand value of such property is such that the move to such accommodation is a poor investment for anyone concerned about passing on an inheritance. June 2012 a flat in the complex fetched £220,000 “People who buy retirement properties should expect that they will hold their value; too often this is not the case.” Campaign against Retirement Leasehold Exploitation looked at the resale prices paid at a random selection of sites by providers McCarthy and Stone, Churchill Retirement Living, Audley, Retirement Villages, Retirement Security and Pegasus. In Burlington Court in Bridlington on the resale values of the information from these figures it be... 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