McCarthy & Stone

McCarthy & Stone
Public (LSE: MCS.L)
Industry Housebuilding
Founded 1977
Headquarters Bournemouth, England, United Kingdom
Key people
 John White (Chairman)
Clive Fenton (CEO)
Revenue Increase £635.9 million (2016)[1]
Increase £95.1 million (2016)[1]
Increase £73.5 million (2016)[1]
Number of employees
 circa 900
Website www.mccarthyandstone.co.uk

McCarthy & Stone is a leading retirement housebuilder, based in the UK. The company operates from nine regional offices, and is responsible for building and selling more than 70% of the UK’s owner-occupied retirement housing each year.[2] Since 1977, it has sold more than 51,000 properties across more than 1,100 developments in the UK.[3] The company is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index.

History

John McCarthy and Bill Stone entered into a partnership in 1961 and in 1977 they built their first retirement housing development in Hampshire. McCarthy & Stone stopped all its other building work to concentrate on developing specialist housing for elderly people.[4] By 1982, when the Company was floated on the Unlisted Securities Market, McCarthy & Stone had completed 15 retirement housing developments and was selling around 200 units a year.[5] Growth was rapid after the flotation and by 1984 the company had a national organisation in place with annual sales approaching 1,000 units. The business was exceptionally profitable due to a rapidly ageing population.[4] Annual sales reached 2,601 in 1988.[4]

McCarthy & Stone was de-listed from the London Stock Exchange in December 2006 following a successful takeover bid of over £1 billion from a consortium including David and Simon Reuben and Sir Tom Hunter.[6] The company successfully refinanced in August 2013 under new ownership.[7] The company was re-listed on the London Stock Exchange in November 2015.[8] In March 2017, McCarthy & Stone became the only UK housebuilder, of any size or type, to win the full five star rating in the Home Builders Federation's customer satisfaction awards for a record 12 consecutive years.[9]

Operations

McCarthy & Stone Head office in Bournemouth UK
McCarthy & Stone's head office. 100 Holdenhurst Rd, Bournemouth, BH8 8AQ

Retirement Living Apartments

Each Retirement Living development incorporates features specifically for the older homeowner, to make life easier in retirement. A typical development consists of circa 40 one and two bed apartments, a House Manager plus shared facilities such as a homeowners’ lounge, guest suite and laundry. Homeowners have to be 60 or over to live in most developments.[10]

Retirement Living PLUS Apartments (previously Assisted Living)

Assisted Living apartments bridge the gap between a conventional retirement development and a nursing care home. Assisted Living can help postpone the need to consider residential care and the person continues to own their own home. Developments include individual apartments, a restaurant, function room, homeowners’ lounge and other shared facilities. Flexible care and support packages are available as required. Homeowners have to be 70 or over to live in most developments.[11]

Lifestyle Living (previously Ortus Homes)

Ortus Homes is a new product from the McCarthy & Stone Group which offers accommodation for those who are 55+. Different from the core Retirement Living product an Ortus Home development has fewer units, larger apartments and more car parking facilities.[12]

Affordable housing

McCarthy & Stone also provides affordable housing separate from the main dwelling complex.[13]

Management Services

In 2010, McCarthy & Stone took its management services in-house, ending its long relationship with the management company Peverel. McCarthy & Stone Management Services provides services and support in its Retirement Living and Ortus Homes schemes, while the company has entered into a partnership with Somerset Care, one of the largest not-for-profit care companies in the UK, to provide management, support and care in its Assisted Living schemes. This partnership is known as YourLife Management Services.[14]

Offices

The Company’s head office is in Bournemouth. In addition, regional offices are located in Glasgow, Altrincham, York, Coventry, Hatfield, Woking, Ringwood, Taunton and Kettering.

Awards

McCarthy and Stone have been accredited with a number of awards:

Year Award Classification
2016 Weymouth Civic Society Annual Award[15] Winner
2016 Housebuilder Awards - Best customer satisfaction initiative[16] Winner
2016 Housebuilder Awards - Best retirement scheme[17] Winner
2016 NHBC Pride in the job Awards[18] Winner (10 Awards)
2015 Sunday Times 2015 - Grant Thornton Top Track 250[19] Mention (Position 35)

References

  1. 1 2 3 "Annual Results announcement for the year ended 31 August 2016" (PDF). McCarthy & Stone. Retrieved 3 November 2016.
  2. ↑ "2012-based Subnational Population Projections for England – ONS". Retrieved 10 February 2016.
  3. ↑ "McCarthy & Stone on course to build 3,000 retirement homes a year" City AM. Retrieved 2015-02-03.
  4. 1 2 3 Wellings, Fred: Dictionary of British Housebuilders (2006) Troubador. ISBN 978-0-9552965-0-5
  5. ↑ Company Prospectus (1982)
  6. ↑ "Reubens and Hunter pounce at McCarthy". This is money. 1 August 2006. Retrieved 10 February 2016.
  7. ↑ "New McCarthy & Stone boss wields the axe". Construction Index. 6 March 2014. Retrieved 10 February 2016.
  8. ↑ "McCarthy & Stone prices IPO at 180p per share". Digital Look. 6 November 2015. Retrieved 10 February 2016.
  9. ↑ "McCarthy & Stone retains five star accolade for customer satisfaction for record twelfth consecutive year". McCarthy & Stone. McCarthy & Stone. 30 March 2017.
  10. ↑ "Retirement Living".
  11. ↑ "Retirement Living PLUS".
  12. ↑ Emperor Design. "Lifestyle Living". Retrieved 10 February 2016.
  13. ↑ "UK builder of retirement homes and flats – McCarthy & Stone". Retrieved 10 February 2016.
  14. ↑ Lindsay Fortado (1 July 2012). "McCarthy & Stone to Sell Financial Services, Sunday Times Says". Bloomberg.com. Retrieved 10 February 2016.
  15. ↑ "THE ANNUAL AWARD". Weymouth Civic Society. Retrieved 12 March 2017.
  16. ↑ "HOUSEBUILDER AWARDS 2016". Housebuilder. Retrieved 12 March 2017.
  17. ↑ "HOUSEBUILDER AWARDS 2016". Housebuilder. Retrieved 12 March 2017.
  18. ↑ "2016 Awards". NHBC. Retrieved 10 March 2017.
  19. ↑ "Top Track 250 league table 2015". Top Track 2016. Retrieved 10 March 2017.
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