In addition you pay an annual ground rent of circa £500. How much clout does your House Manager have? Employed by M & S, but salary underwritten by residents! Strong minded and always wanting a challenge. I have asthma and some sensitivity to various chemical and environmental smells; Jamie deemed it an emergency needing repair immediately and sealed it shut. … We gather those staff have been cut back and at the moment it is unlikely the company will pay. I wonder if, at that stage, a survey would have revealed the problems you describe? Report this profile; About . It took two years and lost 25% of its original value. I started this thread about retirement housing when I wrote a post a few weeks ago on a very upmarket scheme in London. There is no parking for visitors, carers, maintenance companies etc. Result = some residents stop attending and become more isolated. My dad’s recent hospitalisation has stalled the sale, and now his memory is rapidly declining to the point of sometimes bizarre behaviour. Thanks for the additional information. While the flats are well designed, in a nice location and with lovely neighbours and house manager, just don’t believe the wording on the advertisements of maintenance free retirement. Don’t be shy of mentioning health and safety and getting professional advice if you feel it warrants it. OTOH I don’t want her to lose her ‘dream flat’. This is a ludicrous situation and potentially isolates residents from family and friends, restricts residents’ mobility and is problematic for carers and emergency vehicles. (you can see my earlier posts by clicking on “Retirement Housing” in the Topics list). The HIU units were supplied customised to the requirements of each project, … I would not go near them. It’s good to hear that the issues in your development are being addressed although it must be distressing for those whose flats are affected. No Joby I haven’t visited any M&S schemes recently. McCarthy and Stone. Rachel, I sympathise with your dlilemma. It is a bonus too knowing we don’t have to mow lawns or to worry about strangers prowling outside. Have obtained copy of draft lease of new-build apartment which I’ve reserved. Customer services made noises but weren’t much help if it is a big or continuing problem. I have advised a family friend on their purchase of a brand new McCarthy & Stone apartment in Leicestershire and made them very aware that their property may not be worth what they paid for it. ‘Clout’ is therefore limited but she did give me the email address of the top dog regional director when I grew increasingly frustrated with lack of acknowledgement of our building problem. Perhaps Hayley Bailey, Steve Scoley?, David Bridges or Clive Fenton could call me depending on how serious they are about their public, and potential buyers, image. I told him I see a bigger story than the initial sales of the units which is the resale values of these properties. After reading your very useful post last October, I wrote to the M&S sales executive asking if a loop system was going to be built into the communal lounge in the Retirement Living development my mother has reserved a flat in. What scares me are the stories above about serious maintenance/building issues that M&S do nothing about. McCarthy & Stone’s charity partner for 2019 was Beanstalk, a national learning and literacy charity for young children. Almost immediately, problems with the building became apparent. See insights on McCarthy & Stone including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Lone Star had initially agreed a deal to acquire the business for 115p per share, but ahead of the vote … Add the £7,000 a year maintenance service charges and McCarthy and Stone should be ashamed. Having seen my own parents age, with one becoming ill, the other didn’t drive, neighbours stopped calling etc and noting the ensuing loneliness, lack of stimulation etc when I couldn’t be there, I would emphasise that social connections with safety have to rise up the list of needs. McCarthy and Stone, having spent £200,000 on its fancy lawyers, walked away, leaving McCarthy to muse: “The problem with litigation is that you never know what might come out of the woodwork.” However, the whole scandal was a chastening experience and one thing that had to change was McCarthy and Stone’s ownership of Peverel. This is in the North as well! They are generally more expensive to construct because of the additional facilities usually included in the scheme. There are 77 apartments and 23 parking spaces, the problem exacerbated by flats still being sold to car owners and we now park 3 and 4 abreast. It’s been a nightmare like many of those above and dealing with the company has been horrific. Thanks for help during COVID Just a message from us here at Rogerson Court in Pocklington. He/she must have had to deal with residents’ grumbles every day! Thank you, The McCarthy & Stone Team. Mc&S on that occasion sent residents to a hotel on the seafront for three days while the work was done. My mother’s is priced currently at a 20% loss but other flats are looking to lose more than this. Our visits to view had to be orchestrated but were a pleasure and we began the purchase process with Ann Stewart which went extremely smoothly. This seems very expensive considering you have most of your bills still to pay on top. Information from McC & S appears to be kept to a minimum. It will also mean peace of mind for me- less worrying about her alone in a house and garden that’s got too difficult for her to manage. Two weeks on, we’ve had several viewers but no offers. McCarthy & Stone shareholders have voted in favour of a takeover of the retirement housebuilder by private equity firm Lone Star. Lots of complaints and lawyers intervening seems to be the reality of McCarthy Stone assisted living. As there presently are no bodies effectively regulating this business nothing will change. The board of Bidco - a wholly-owned indirect subsidiary of Lone Star Real Estate Fund VI - made the offer today. However, there are upsides. However, it was recently revealed that all 44 flats now need their en suite walk in shower floors replaced because of faulty tanking. We’ve reserved a flat off-plan. For a typical Retirement Living apartment (based on Atwood House in Sanderstead), the latest service charge is £48.93 a week for a one-bedroom apartment and £73.36 a week for a two-bedroom apartment. Work has started a week later, today, as another emergency took priority. Log in, McCarthy and Stone proud of 35 years of ‘fairness and respect’, McCarthy and Stone gives Peverel the push at 25 retirement sites, Our ground rents are fair, says McCarthy and Stone (even though they go up to £600 and are for no service whatsoever), Goodbye, Peverel. Mccarthy News Headlines. MCCARTHY & STONE MANAGEMENT SERVICES LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity Hence residents feel as if we are being herded around en masse like kids in a boarding school, not home owners who have paid an average of £300k for our flats. I suspect much depends on the house manager and if ours hasn’t won manager of the year yet there must be a lot of absolute angels out there Charges for MCCARTHY & STONE MANAGEMENT SERVICES LIMITED (07166051) More for MCCARTHY & STONE MANAGEMENT SERVICES LIMITED (07166051) Registered office address Fourth Floor, 100 Holdenhurst Road, Bournemouth, Dorset, BH8 8AQ . Churchill Retirement Living an McCarthy & Stone competitor, was set up by John McCarthy who also founded McCarthy and Stone! They engage 3 estate agents, they recommend our sale price, and then M&S will only allow us a 5% margin over that. I was initially not sure I wanted to move, it was husband that was keen, but I was happy here from day one, other than having to exert quite a bit of pressure on M&S to right a building fault. We still like living here in this McCarthy and Stone development, with our great location and community, but these downsides have become a problem now……… Peverel is more widely disliked, and it is excellent that the issues surrounding … Their website is very substantial which you would expect from such a large organisation. McCarthy and Stone has profited the most from the retirement leasehold racket and yet has curiously not been the focal point of most of the opprobrium. The sales people way over committ. The company has also supported several smaller charities. Mixing property ownership and care together is a mistake. problems with water ingress are yet to be resolved. GrumbleSmiles: did you go back to visit any M&S developments and have you published any further comments? It is the intention of McCarthy & Stone Management Services to ensure the service charge budgets are set as accurately as possible. Shortly afterwards, McCarthy and Stone sold the company. Dear Ros – The House Manager in this Retirement Living development is here five days a week. Or would the alternative be an old people’s home? We were a bit peeved as our favoured estate agent suggested a higher market price for our old flat, but in the end we sold in time and it made it all fairly painless as the price for old and new flats more or less equated. Working in collaboration with McCarthy and Stone’s energy consultants, the building was designed to enhance energy efficiency. Jen, Thanks very much for writing about your experiences. As I suspected! It is said that these profits came at the expense of the elderly and vulnerable that purchased properties in good faith, only to find they were stuck with excessive charges in the print of their leases. Why the haste? Shortly afterwards received a call from them when I informed them that I thought the detached homes were poorly constructed and hugely overpriced for what they were. But the comments on my initial post do raise a few common concerns about slow response to repairs. Since September, residents have not been allowed to use their balconies, for which they paid a premium, sea views have gone as has privacy as the balconies are used by workmen to move from one side of the building to the other passing within feet of the picture windows. Latest mirage is After Sales. Several residents of this new development in the south west have been affected by construction problems, mainly water based. Check out what 174 people have written so far, and share your own experience. The company is a big plus and several real friendships have formed here for shopping outings, lunches and even a cruise, while for others just seeing people downstairs in the laundry room for a laugh and chat is enough. We have 6 weeks marketing time to get it sold subject to contract. I've just checked the MCccarthy and Stone development closest to Mum. The manager is perfect and as others say you can be just as involved as you wish. What’s more the resales agents take advantage of this to drive prices down further. We and other residents here are visiting a neighbour in hospital because her relatives are even older or live upcountry. Car parking has been restricted by planning guidelines for many years, all in a move to promote public transport and reduce carbon emissions. My parents are downsizing – both got health problems – almost 80 – the dilemma is to go for MCS which I sorta feel uneasy about – I think they take away some independence and money, or a 2 bed bungalow which is also closer to me – their only daughter. Always happy to help and go that extra … I cannot smile, maybe wryly with scepticism. I said in an earlier reply there are definitely a few things less than 100% value and not the dream as advertised. Alot of elderly people prefere to live at home and as a result theamount of retirement homes available are increasing. There were excessive draughts and water ingress through the lounge and bedroom picture windows which opened onto the balconies in many apartments. As a builder of over 60s accommodation surely this type of support should have been catered for. The plumbers told us each shower tray was a different size (!) I have no doubt it is a tool to get us to accept a lower offer in a shorter time. A source close to the deal insisted it was not loaded with debt, and that service charges would not be ramped up. Entry age for RL is 55 years up and we are apparently the younger, independent and active end of the market – although residents are actually between 60 and 92 years of age. McCarthy & Stone has 2,523 employees across 8 locations and £671.60 M in annual revenue in FY 2018. With some developments you can try before you buy by staying in the guest room for a couple of nights. 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