McCarthy & Stone

McCarthy & Stone
Public (LSE: MCS.L)
Industry Housebuilding
Founded 1977
Headquarters Bournemouth, England, United Kingdom
Key people
 Paul Lester (Chairman)
Clive Fenton (CEO)
Revenue £660.9 million (2017)[1]
£94.2 million (2017)[1]
£74.4 million (2017)[1]
Number of employees
 2,145 (2017)[1]
Website www.mccarthyandstone.co.uk

McCarthy & Stone is a 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 54,000 properties across more than 1,200 developments in the UK.[3] The company is listed on the London Stock Exchange.

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 operated on a national basis with annual sales approaching 1,000 units. The business was exceptionally profitable due to a rapidly ageing population.[4] Annual sales reached 2,601 units 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

The McCarthy & Stone Horizon development in Poole, Dorset
McCarthy & Stone Head office in Bournemouth UK
McCarthy & Stone's head office. 100 Holdenhurst Rd, Bournemouth, BH8 8AQ

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 Lifestyle Living 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 Retirement Living PLUS schemes. This partnership is known as YourLife Management Services.[10]

References

  1. 1 2 3 4 "Annual Report and Accounts 2017" (PDF). McCarthy & Stone. Retrieved 30 March 2018.
  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. ↑ Lindsay Fortado (1 July 2012). "McCarthy & Stone to Sell Financial Services, Sunday Times Says". Bloomberg.com. Retrieved 10 February 2016.
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