Type Public (LSE: MCS.L) Number of employees circa 900 Revenue 635.9 million GBP (2016) Founded 1977 | Industry Housebuilding CEO Clive Fenton (Feb 2014–) Net income 105 million GBP (2016) | |
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Key people John White (Chairman)
Clive Fenton (CEO) Website www.mccarthyandstone.co.uk Stock price MCS (LON) 190.90 GBX -1.10 (-0.57%)16 Mar, 12:43 PM GMT - Disclaimer Headquarters Bournemouth, United Kingdom Profiles | ||
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. Since 1977, it has sold more than 51,000 properties across more than 1,100 developments in the UK. The company is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index.
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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. 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.
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. Annual sales reached 2,601 in 1988.
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. The company successfully refinanced in August 2013 under new ownership.
The company was re-listed on the London Stock Exchange in November 2015.
In March 2016, 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 11 consecutive years.
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.
Assisted Living Apartments
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.
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.
Affordable housing
McCarthy & Stone also provides affordable housing separate from the main dwelling complex.
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.
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: