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McCarthy Stone meets major milestone as it opens 500th retirement community

McCarthy Stone celebrated the opening of its 500th managed development, at Priory House in Banstead, Surrey.

Priory House Retirement apartments entrance
News and community
Posted 28 March 2023
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McCarthy Stone, the UK’s leading developer and manager of retirement communities, this week celebrated the opening of its 500th managed development, at Priory House in Banstead, Surrey.

Priory House is McCarthy Stone’s 500th managed development since it brought its management services offering in-house in 2009. Since then, it remains as the managing agent and landlord on all new developments, providing long term care and support for its homeowners, along with high-quality property management and lifestyle services. 

Today McCarthy Stone supports more than 22,000 older people, mostly in their 80s, helping them enjoy a better later life. It has been responsible for more than half of all retirement housing built over the last decade and is building c.40 new retirement communities a year.

Its 500 developments include 119 Retirement Living PLUS developments, which are a form of Extra Care housing with additional services on-site including regulated care, bistros or restaurants, and access to 24-hour support.

John Tonkiss, McCarthy Stone’s CEO, said: “This milestone is an indication of the ongoing need for more and better housing for older people across the country. I would like to thank our 22,000 customers who put their trust in us every day to make their later years a delightful experience. I would also like to thank everyone who works for McCarthy Stone. It is their commitment to championing and supporting our homeowners that makes it possible to provide our services and create even deeper and longer relationships with our customers.”

Housing Minister Rachel Maclean MP also welcomed the news, adding: “Increasing the supply and choice of specialist housing for older people is a priority for the government, which is especially important as the population ages. Offering older and more vulnerable people a better choice of accommodation to suit their changing needs can help them live independently and feel more connected to their communities.”

McCarthy Stone is also evolving its product and service offering to continue to meet the needs of the ageing population. It became the first national retirement community operator to offer a rental service for its customers in 2019, and around a third of its yearly transactions are now for this tenure. It is also increasing the flexibility of its services, offering more care and support, alongside increasing the affordability of its products. This is being done by providing an affordable shared ownership offer, as part of Homes England’s Older Person’s Shared Ownership Scheme, and through its innovative partnership with Anchor, where a range of ‘affordable for all’ retirement communities are being developed across all tenures, including social rent.

Finally, McCarthy Stone is also innovating its approach to construction. It became the first national housebuilder to commit to building 50% of future developments in full using modern methods of construction (‘MMC’). This will allow McCarthy Stone to build faster, more affordably and more sustainably, benefiting its customers and wider society.

Priory House is on Bolters Lane in Banstead, Surrey and is McCarthy Stone’s latest Retirement Living development. It features 44 apartments alongside communal areas and a House Manager based on-site. It is already 80% sold. For further details about the scheme, please visit www.mccarthystone.co.uk/priory-house or call McCarthy Stone on 0800 153 3435

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