McCarthy & Stone

McCarthy & Stone is a developer and manager of retirement communities in the UK. The company operates from four divisional offices and has a significant share of the UK retirement community market.[2] The company is listed on the London Stock Exchange.

McCarthy & Stone
TypePublic
LSE: MCS
IndustryHousebuilding
Founded1977
HeadquartersBournemouth, England, United Kingdom
Key people
Paul Lester (Chairman)
John Tonkiss (CEO)
Revenue£725.0 million (2019)[1]
£48.4 million (2019)[1]
£34.9 million (2019)[1]
Number of employees
2,433 (2019)[1]
Websitewww.mccarthyandstone.co.uk

History

John McCarthy and Bill Stone became partners in 1961, and in 1977 they built their first retirement housing development in Hampshire. Subsequently they ceased other building work to concentrate on developing specialist housing for elderly people.[3] 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.[4] 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.[3] Annual sales reached 2,601 units in 1988.[3]

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.[5] The company was refinanced in August 2013 under new ownership[6] and was re-listed on the London Stock Exchange in November 2015.[7]

In March 2019, 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 14 consecutive years.[8]

In October 2020, McCarthy & Stone directors urged shareholders to accept a £630m takeover bid from US private equity investment firm Lone Star.[9] Shareholders approved a takeover by Lone Star for £647m in December 2020.[10]

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

McCarthy & Stone’s in-house Services teams provide personal care, support and property management services in all of its Retirement Living and Retirement Living PLUS (Extra Care) schemes built since 2010.[11] It is also the largest provider of new Extra Care developments in the UK.[12]

As of September 2018, McCarthy & Stone now provides a choice of tenure including rental and shared ownership, an expanded care offering and more products, including the use of ‘Modern Methods of Construction’.[13]

Awards

McCarthy & Stone has achieved a variety of awards and recognition:

Year Award
2019 Housing for Older People Awards[14]
2019 NHBC Health and Safety Awards[15]
2019 Customer Satisfaction Five Star Award[16]
2018 Housebuilder Awards[17]
2018 ARMA ACE Awards[18]
2018 NHBC Health & Safety Awards[19]

Charity initiatives

In 2017, the company’s 40th year, McCarthy & Stone raised over £250,000 for the Royal Voluntary Service.[20] McCarthy & Stone’s charity partner for 2019 was Beanstalk, a national learning and literacy charity for young children.[21] The company has also supported several smaller charities.[22]

References
  1. "Annual Report and Accounts 2019" (PDF). McCarthy & Stone. Retrieved 3 March 2020.
  2. Viv (31 July 2019). "McCarthy & Stone reaches significant milestone in the development of its care services business". Healthcare Business. Retrieved 18 December 2019.
  3. Wellings, Fred: Dictionary of British Housebuilders (2006) Troubador. ISBN 978-0-9552965-0-5
  4. Company Prospectus (1982)
  5. "McCarthy's demographic push". Shares Magazine. 10 March 2016.
  6. "New McCarthy & Stone boss wields the axe". Construction Index. 6 March 2014. Retrieved 10 February 2016.
  7. "McCarthy & Stone prices IPO at 180p per share". Digital Look. 6 November 2015. Retrieved 10 February 2016.
  8. "McCarthy & Stone Sheffield team award winners again for 14th consecutive year". McCarthy & Stone. McCarthy & Stone. 30 March 2017.
  9. "McCarthy & Stone board backs US private equity takeover". The Construction Index. 23 October 2020. Retrieved 23 October 2020.
  10. "McCarthy & Stone shareholders vote in favour of £647m takeover deal". Evening Standard. 8 December 2020. Retrieved 8 December 2020.
  11. Pamben, Deven (31 July 2019). "McCarthy & Stone to deliver care services directly". LaingBuisson News. Retrieved 18 December 2019.
  12. "McCarthy & Stone parts ways with Somerset Care and launches own extra care services". www.carehomeprofessional.com. Retrieved 18 December 2019.
  13. "Modular Construction and the Specialist Housing Sector". www.housinglin.org.uk. 2 May 2019. Retrieved 18 December 2019.
  14. "Regional and National Results". Housing Awards. Retrieved 18 December 2019.
  15. "Archive 2019 | NHBC". www.nhbc.co.uk. Retrieved 18 December 2019.
  16. "CSS Star rating results". www.hbf.co.uk. Retrieved 18 December 2019.
  17. "Housebuilder Awards 2018". www.house-builder.co.uk. Retrieved 18 December 2019.
  18. "2018 Winners & Finalists - ARMAAwards". awards.arma.org.uk. Retrieved 18 December 2019.
  19. "Award-Archive-2018 | NHBC". www.nhbc.co.uk. Retrieved 18 December 2019.
  20. "McCarthy & Stone raises more than £250,000 for RVS". PHPD Online. 9 April 2018. Retrieved 18 December 2019.
  21. "McCarthy & Stone 2019 charity partnership". Coram Beanstalk. Retrieved 18 December 2019.
  22. "McCarthy and Stone seeks local charity to support". Hereford Times. Retrieved 18 December 2019.
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