McCarthy & Stone gears up for growth

02 February 2015

McCarthy and Stone set to launch three new regional businesses

McCarthy & Stone, the UK’s leading retirement housebuilder, is kicking off the next stage of its exciting growth plans with the announcement that it plans to launch three new regions.

With a commitment to invest £2 billion during the next four years in land and build, McCarthy & Stone plans to develop 12,000 new homes across more than 300 locations, effectively doubling the size of its business. To deliver against these targets, the Company is strengthening its regional presence with the creation of three new regions and is looking for experienced senior leaders together with sales and land acquisition specialists to spearhead growth. In total, the business expects to recruit in excess of 400 people in the new regions over the next four years.

Currently operating across six regions, the new structure will see the existing North, South West and Midlands regions each divided into two more concentrated regions.  They will have their own dedicated teams to acquire new development opportunities and plan, deliver and manage the Company’s leading retirement apartment developments.  

The news follows the announcement of the launch of McCarthy & Stone’s sixth region last summer, in North London, which was the Company’s first new regional office for 14 years.  Each new region will create many additional job opportunities in the supply chain. 

Clive Fenton, Chief Executive officer at McCarthy & Stone, said:

“With the growing demand for high-quality retirement housing and our land pipeline in excess of five years’ supply, we are focussing on the expansion of our business to meet this unprecedented growth opportunity.  We are looking to boost our leadership team, starting with senior level appointments in these new regions. As the leader in the sector, we are embarking on an exciting and transformational journey to respond to the needs of a rapidly growing and increasingly discerning retirement market. The future is about continuing to tailor our designs to the needs and aspirations of our customers with ongoing product innovation and best-in-class customer service.”

The move underlines the improvements in market conditions and the rising demand for retirement housing across the country. There is a significant nationwide need for more specialist retirement developments, with those aged 65 and over in the UK set to rise from 11.4 million in 2014 to 17.2 million in 2033.  Recent analysis by Demos, the think-tank, commissioned for the Home Builders Federation, found that 58% of over-60s are interested in moving home but that many are restricted by a lack of suitable alternative housing. One quarter (25%) expressed particular interest in buying a retirement property – a total of 3.5 million people – which dwarfs the c110,000 retirement properties currently built for home ownership to-date.

Clive Fenton added:

“We all know that there is a housing shortage, but public debate is very much focussed at the first-time-buyer end of the market rather than giving equal consideration to the needs of our ageing population.  We know from our many developments that increased quality and availability of owner-occupied retirement housing provides a well-deserved solution for our customers.  It also frees up much-needed family housing onto the local market, which in turn creates additional supply at the start of the housing ladder.”

2015 will also see the launch of McCarthy & Stone’s new product, known as Ortus Homes.  Ortus Homes presents an exciting opportunity for the future, exclusively for the over-55s and those in the early stages of retirement who are seeking to downsize for their leisure years. The Company is currently selling its first apartments in this new product range in Solihull and has a further 23 sites in its pipeline. Ortus Homes will help to capture a wider share of the active retiree market.

To find out more about pursuing a career with McCarthy & Stone, please email Paula Jordan, HR Director at paula.jordan@mccarthyandstone.co.uk

 

ENDS

 

For further information, please contact Louisa Grocott at McCann PR on 0121 7133552 or email louisa.grocott@mccann.com