McCarthy & Stone, which currently operates across six regions, is dividing its North, Southwest and Midlands operations into two more concentrated regions. It will thus increase from six to nine regions. Each will have its own dedicated teams to acquire new development opportunities and plan, deliver and manage retirement apartment developments.
The company plans to invest £2bn over the next four years in buying land and building new developments. McCarthy & Stone plans to develop 12,000 new homes across more than 300 locations, effectively doubling the size of its business
The latest restructure follows 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.
Chief executive Clive Fenton 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.”
McCarthy & Stone is also developing its Ortus Homes product this year, designed for those ready to downsize but who don’t consider themselves old enough for a retirement complex.
The company is now selling its first Ortus in Solihull and has a further 23 sites in its pipeline.
Got a story? Email news@theconstructionindex.co.uk
