McCarthy & Stone introduces 999 year leases
08 April 2016
MCCARTHY & STONE INTRODUCES 999 YEAR LEASES
McCarthy & Stone, the UK’s leading retirement housebuilder, has announced that it will extend the lease on all new properties to 999 years.
Highlighting McCarthy & Stone’s commitment to delivering excellent customer service across the business’ various product ranges, the housebuilder has extended the lease to give homeowners and their families’ complete peace of mind when they come to sell on in the future. All McCarthy & Stone apartments* listed for sale after August 2015 will now come with a new 999 year lease. Previously 125 years, the longer lease enhances the value of the properties.
Clive Fenton, Chief Executive officer at McCarthy & Stone, said: “At McCarthy & Stone we are committed to helping older people stay independent for longer. Our developments give homeowners the opportunity to benefit from the best of both worlds - companionship when they want it and privacy when they need it, and we are confident that this significant change to our lease will also provide our homeowners with the security and reassurance that a McCarthy and Stone property is a secure financial investment for the future.”
At the heart of McCarthy and Stone’s business model is its desire to improve the lives of those in later life, centred on purpose-built, high-quality developments in central locations with varying levels of support and care. Since 1977 McCarthy and Stone has built over 50,000 high-quality specialist retirement apartments and has more than 160 developments under construction or for sale nationwide.
*There may be exceptions across a select few developments in the UK.