McCarthy & Stone completes its 50,000th retirement apartment sale

Posted 20 January 2016 by Keith Osborne

The market-leading provider of retirement property has reached a notable milestone, as it also sets out its intentions for significant expansion in the next few years...

Leading retirement property builder McCarthy & Stone is celebrating its 50,000th sale, underlining its dominance of the new build retirement living sector since its founding 38 years ago.

Marjorie Crawford is the owner of the company’s 50,000th retirement apartment, recently moving into her Assisted Living apartment at Lyle Court in Edinburgh.

Marjorie says: “I’ve lived in the area for most of my life, and followed the progress of Lyle Court from the very start, from the planning stages through to completion. Over the years I’ve become increasingly restricted by health issues and recently decided that it was the right time to downsize. It was important for me to find somewhere more suitable to my needs, but which was still very much my own home. As soon as I stepped through the door, I just knew that Lyle Court was for me – it just felt right.

“I’ve only been here for a matter of days, but it already feels like home. One of the main reasons I wanted to move was to regain my independence. I’m unable to drive, and the nearest bus stop was too far for me to walk, so at times I felt like I was trapped in my own home. I used to rely heavily upon my daughter to do my food shopping but now I can just pop over the road to get my groceries whenever I want. It’s the small things like this that make all the difference, and now I can finally start to enjoy my retirement.

“When I bought the property I had no idea this would be McCarthy & Stone’s 50,000th apartment sale – but the milestone shows there is a real demand for high-quality retirement developments which allow people like me to retain the independence of homeownership, while living in a secure, low-maintenance and energy-efficient apartment.”

McCarthy & Stone recently released its latest trading figures, showing sales up 15% on the previous year. The company intends to invest £2.5bn over the next four years and build 12,000 more new homes designed specifically for retirees.

Clive Fenton, the company’s CEO, says: “We’re delighted to welcome Mrs Crawford to Lyle Court in Edinburgh. Providing age-appropriate housing to such a huge volume of retirees in the UK is a real achievement and one we are immensely proud of. 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.

“However, with the number of over-85-year-olds in the UK expected to more than double between 2014 and 2033, the next 50,000 properties will come around very quickly. We know that one in four over 60s is interested in retirement living – that’s 3.5 million individuals – yet only 128,000 units have been built to date.

“While we plan to double the amount of properties we build to 3,000 a year over the medium term, more needs to be done to provide retirees with a better choice of attractive, high-quality homes should they wish to downsize.”

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