You can buy a two bed detached bungalow for £180k, they tried to tell me that the apartments are good value. A source close to the deal insisted it was not loaded with debt, and that service charges would not be ramped up. She is here five days a week. 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. We have been instructed we shall be booked into a local hotel on a rota system. The cladding came off as soon as the scaffolding was up, it is yet to be replaced. And while various repairs are still going on in a few more flats too, not many of us want to move. I told him I see a bigger story than the initial sales of the units which is the resale values of these properties. 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. ‘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. But another issue is, if he buys the M&S flat and then needs to spend a while in hospital or a care home, he/you will still have to pay the M&S services charges. We know they have cut back on the building programme too. We have been living in our M&S seaside development in the southwest for nearly 2 years now. The manager is perfect and as others say you can be just as involved as you wish. YOU WILL LIVE TO REGRET IT, GUARANTEED. It took two years and lost 25% of its original value. Thank you for your comment Susan. In our development we have some keen travellers going on cruises or to see relatives in far flung parts but most will be here for, say, eight months of the year. MCCARTHY & STONE MANAGEMENT SERVICES LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity Friends from the flats we used to live in comment on the loneliness in winter as they have no communal meeting places, other than on the stairs or in the car park. All the best to you and your mum As usual, no sighting of senior management, no letter of apology for the inconvenience from them, just a note from our lovely house manager. Would love to hear what your decision was, and how’s it working out? What scares me are the stories above about serious maintenance/building issues that M&S do nothing about. There is slight hope after Lord Best inquiry recommending a new regulatory body to be established. I’m interested as my mother has recently moved into a Retirement Living development. It’s disappointing to hear that M&S weren’t helpful with regard to dealing with the issues. Despite meetings with directors at MCCARTHY & Stone very little happened although she was eventually fired. Almost immediately, problems with the building became apparent. Assistant Service Charge Accountant at McCarthy & Stone Bournemouth, United Kingdom 32 connections. My parents in law live in a M&S building and we’re finding the tile surround of the shower room quite slippery. My mother’s is priced currently at a 20% loss but other flats are looking to lose more than this. Employed by M & S, but salary underwritten by residents! no comments here. A spokesperson for McCarthy & Stone said: “Our policy is one of complete transparency around costs. A few miss their gardens but we all have balconies and on the whole I think the company, proximity to shops, and knowing help is always at hand more than makes up for it. My experience was very different. “Retirement Housing Review – McCarthy & Stone”, Wolverhampton – one bed          £160k to £200k        Retirement Living, – two bed          £240k to £255k        Retirement Living, Ashby                    – one bed          £170k to £200k        Retirement Living, – two bed         £245k to £260k        Retirement Living, Swindon                – one bed         £205k                          Retirement Living, – two bed         £301k                          Retirement Living, Leicester               – one bed         £200k to £211k          Retirement Living, – two bed        £281k to £286k          Retirement Living, Leicester                – one bed        £143k to £163k           Assisted Living, – two bed        £238k to £288k         Assisted Living, Nottingham           – one bed        £227k to £300k         Assisted Living, – two bed        £278k to £481k          Assisted Living, Harrogate              – one bed         £264k to £274k         Ortus Luxury Homes, Swanage                 – one bed        £350k to £400k         Ortus Luxury Homes, – two bed        £421k to £526k          Ortus Luxury Homes, Buckinghamshire – two bed       £575k to £595k          Ortus Luxury Homes, Essex                      – two bed        £620k                          Ortus Luxury Homes, Hampshire            – two bed        £380k to £650k        Ortus Luxury Homes, Poole                      – two bed        £595k to £769k         Ortus Luxury Homes, – three bed     £1,425k                        Ortus Luxury Homes. Our House Manager just likes to check people are ok if she hasn’t seen them for a while and needs to know if you are away for the night for fire safety reasons. Faulty drainage is the main problem, often on balconies above and coming down outside walls then spreading across the ceiling of a bedroom below, or seeping through from unsealed wetroom showers etc. Capable of listening and understanding colleagues. 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. I think these schemes are relying on the better off (those who own houses) and their children wanting to keep an equity stake when really they should be worrying about their long term care needs. Unfortunatly Covid 19 raised its’ head. This building has had construction problems since it was built and it seemed the contractors brought in to repair were getting on top of things. The other side of wardrobe wall is the cloakroom with a shower too, which his initial investigation showed was not properly sealed underneath and that underside was black with mould. This is in spite of the hard sell, the dismal capital values and they fact that McCarthy and Stone draws up its disadvantageous and exploitative leases. I bought a McCarthy & Stone apartment (built 2002/3 on the A38 in Birmingham and now managed by First Port) – nearly two years ago with the assurance that there was parking available – it was a lie. So much for the hassle-free retirement living promised in McCarthy & Stone advertisements. Which type of development was it? The HIU units were supplied customised to the requirements of each project, … We and other residents here are visiting a neighbour in hospital because her relatives are even older or live upcountry. Ten years ago my Mother was persuaded by hard sell techniques to part-exchange her bungalow for a one-bed M&Stone “apartment” in Reading, Berks. I've just checked the MCccarthy and Stone development closest to Mum. Apparently they are not tanked properly which means when pushed or stood upon they ‘bounce’ slightly and the grouting becomes loose, with potential for seepage to the flat below. You certainly need to be a tolerant people person who doesn’t mind being interrupted several times a day with knocks on the office door. This at present awaiting available parliamentary time. We have experience of living on new developments elsewhere too pre-retirement and sadly have noted many instances of appalling build quality, with subcontractors usually blamed and with the same reluctance to return to make good. And don’t expect to participate in any general property price rise as this is a specialized market. Lone Star had initially agreed a deal to acquire the business for 115p per share, but ahead of the vote … Alot of elderly people prefere to live at home and as a result theamount of retirement homes available are increasing. I started this thread about retirement housing when I wrote a post a few weeks ago on a very upmarket scheme in London. Very helpful for elderly people looking for retirement homes and will help alot of people make the right choices. 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. Thanks! Could you possibly give readers some idea of what the problem is/was? I think the key point is that no-one should buy these flats unless the price is similar to other flats in the area. As with all mirages it takes time to recognize what is in front of you. 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. They recommend we use their Smooth Move scheme for selling her house. (I know part-exchange will result in a sale at undervalue of about 10% they told me, so we don’t plan to do that.) The assisted schemes – Retirement Living Plus – have staff permanently on site. This was partly driven by overpaying at the outset and undoubtedly by the dreadful reputation that the facility has with local people. It will be good to see if your views change after a few months. Clearly I am not at all happy that my details have been passed on without my authority, and distinctly unhappy that nobody has phoned back despite my request for escalation, having been advised by staff that they have referred. McCarthy & Stone. However, there are upsides. It’s worrying as there’s not much more we can do, and we don’t know how quick M&S will be to enforce their threat to cancel her reservation or put up the price. Looking at publicly available Land Registry data for the last 12 resales in that development resulted in an AVERAGE 50% loss on initial purchase price. Sorry to hear you (or someone you know?) Don’t be shy of mentioning health and safety and getting professional advice if you feel it warrants it. I am sure your mother will enjoy her flat and the company. I am sure that they offer many benefits but just be aware. In 2006 McCarthy & Stone was sold for £1.1 billion. McCarthy & Stone has 2,523 employees across 8 locations and £671.60 M in annual revenue in FY 2018. What is the M & S take on properties being occupied as a second/holiday home, ie not on a full-time basis? I don’t know this particular scheme, so I looked at the website and it seems to show a lot more than 10 car parking spaces. In addition you pay an annual ground rent of circa £500. Join to Connect. It has been very stressful and time consuming getting repairs, with no compensation or even an apology. McCarthy and Stone and a media firestorm in 1991 – Carlex One thing I’ve found very different is that the Nottingham service charges (for a 2 bed) are about £9,000 a year, so four times the £200pcm you quote. It’s been a nightmare like many of those above and dealing with the company has been horrific. I would not go near them. When I gently enquired, the sales rep flippantly replied that they had a mobility scooter facility in anticipation for their residents becoming elderly. Category: Latest News, News, Retirement Tag: Better Retirement Housing, Lord Best, McCarthy and Stone, Retirement, The Guardian, The Times. FUN READING THIS BUT HAVE TO FIND WHERE I CAN REGISTER A COMPLAINT. The house manager should be the first port of call but depends on how user friendly he/she is. That did produce the right result and action – or maybe it was when I mentioned the Press…. I’m not at all happy about that, as it seems unreasonable to refuse access for this purpose. Linlithgow development has NO parking for carers, doctors, nurses, prescription delivery, family or anyone else except 10 spaces for residents. alicetrefusis Wed 30-Oct-13 11:16:52. If I recall the 1 beds are about £7,500). 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. GB. I asked our lovely manager if Mc&St would pay for alternative accommodation if this is to go on much longer, as they had back in 2018 when they sent everyone to a hotel. I maybe doing them a disservice so I will endeavour to go and see some of their newer schemes in the next few months and I will report back after that. He tracked this to the adjacent built in wardrobe and removed the boxes on the floor. POOR PLANNING. Accounts. Lots of complaints and lawyers intervening seems to be the reality of McCarthy Stone assisted living. After McCarthy & Stone were featured on Channel 4 Dispatches programme about their selling tactics, the producer of this programme contacted me for further comment. McC&S has been in business for over 40 years. I asked to be taken off their register but continued to receive correspondence from them. I just want best for them, and seems they are more worried about care etc if one of them declines, or passes away. Mc&S on that occasion sent residents to a hotel on the seafront for three days while the work was done. I had a similar experience when I resold a property in a McCarthy and Stone scheme in Gloucester. * Most new builds in the retirement market these days have a loop system installed in the communal lounge where it is most needed. Do you have adequate cover in his/her absence? We still have plumbers in the building, 2+ years since the first residents moved in. Thank you for that useful feedback, I had a similar experience when I sold my uncles McCarthy and Stone flat in Gloucester a few years ago. In a lovely bungalow but where they only see the neighbours when they are out in their garden in summer, and maybe worry about the dark winter nights? They are geared more fully for the over 75s. No one wants to make an investment which is bound to lose. No Joby I haven’t visited any M&S schemes recently. Talk to residents if you can. McCarthy & Stone is proud to be one of the few retirement companies not to charge exit fees, having removed them in new schemes in 2009. The plumbers told us each shower tray was a different size (!) 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. They also have a 1% of capital charge on resale plus a small sales admin fee of £324. In August 2015, McC & S opened a new development on the east coast of England. Or would the alternative be an old people’s home? The service charges and ground rent come to £258 a month! Our deal was one just for August 2016, with the end of M&S’s financial year, December, in view. But the comments on my initial post do raise a few common concerns about slow response to repairs. An ambitious, reliable and self-motivated individual. It takes three days for each one, with accompanying noise. have had a bad experience with Retirement Living Plus by McCarthy & Stone. The building was put up in a wet summer with much pressure on the sales force to sell. The basic Retirement Living model has many pluses for the elderly like a room for storing and recharging mobility scooters, wide corridors and the usual rails and alarms in bathrooms. I think this is a problem with lots of retirement properties, especially when other properties in the project are up for sale at the same time. I’d gladly lose some of my inheritance to see my Mum happy, secure and independent (which I hope she will be in a few months time in her new M&S retirement flat, if all goes to plan). As I suspected! Please check the costs and charges of your investment and our service before investing. Good luck, Jen. We brought the need for something like that here to the attention of the area director but after a year of pushing we just got an inexpensive microphone for social events, often inadequate for those wearing hearing aids. Although we are all being careful to maintain social … In terms of value it’s absolutely disastrous – we have probably lost 25-30% after four years against a local market that has been rather buoyant. In effect, the residents are having to live on an active building site, with the consequential noise, dirt and inconvenience this brings. Thanks Jen. I have asthma and some sensitivity to various chemical and environmental smells; Jamie deemed it an emergency needing repair immediately and sealed it shut. The deal now is that M&S engage New Homes Group to act as agents (for them). The well-insulated airtight building fabric and a mechanical ventilation system with heat recovery ensures optimal comfort across all one and two bedroom apartments. In autumn 2019 we noticed a hairline crack in that replacement shower tray. Malcolm. Their new brand of Ortus Homes seems to have abandoned any pretension of providing of any degree of communal living so I’m rather confused as to how this accommodation can in any way be described as pioneering in terms of retirement housing. This is a nonsense when you properly consider the mobility needs of older people. Or with friends raising a glass at a get together just down the corridor? Moving to a retirement flat may not always be the absolutely best deal but as your mum or dad gets older just think where would they best be for a few more years. They have over 40 years’ experience in the industry and, during this time, they’ve built over 56,000 homes across 1,200 developments. My Mum has set her heart on a new M&S flat and the problem is, if we don’t go through with it, there doesn’t seem to be any acceptable alternative in her neighbourhood, which she needs to stay in to maintain her activities, social networks etc and therefore her wellbeing and independence. By September, the development was shrouded in scaffolding. Financial News Articles for Mccarthy & Stone Plc Ord 8P updated throughout the day. They now have sub-divided their products into three basic divisions. Her style was entirely unsuitable and she bullied residents. You have two years to report problems and get them rectified). “The vast majority of … All develoments need carefully checking – house manager, facilities inside and out, age of building and residents etc. If he was to become more poorly or suffer dementia, can he be evicted? (You learn a lot from other residents about how to handle things like that and our house manager is supportive. 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. Although having built a lot of retirement housing I know that there is always difficulty providing enough visitors parking. Workmen were ever present but the problems remained unsolved. 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. They also have a 1% of capital charge on resale plus a small sales admin fee of £324. 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. Bearing in mind your experiences with water leaks, I also engaged a surveyor to do a snagging survey shortly before exchanging contracts but was refused access by M&S on the grounds that its contractors are still working in the flat and it won’t be finished until completion day. However, the community is great, especially for single people. The vote on the deal, which took place yesterday, saw almost 80% of votes cast in favour of the takeover after Lone Star increased its offer for the company. If we can get past this stage, I’m hopeful that she’ll be very happy there! Thanks again for your comments. … With some developments you can try before you buy by staying in the guest room for a couple of nights. I’m desperate to walk away but he’s even keener. But any new-build will cost more, and in a M&S development you’re also paying for the club lounge, landscaped garden, property manager who not only looks after the building but also organises coffee mornings etc. What is somewhat surprising is that their market offer has hardly changed in all that time and is still essentially selling the same product. Wish us luck! They want an answer before the end of the week. In meantime there will be casualties and most that entered this world will be one, some will realize this and some will never. While most people here have family living within easy driving distance, often they can only come in once a week and, particularly in winter, that can be a long time. High monthly service charges. Thank you for your comments! McCarthy & Stone is the UK’s leading developer and manager of retirement communities. Our House Manager is a very caring and knowledgeable local lady who has worked for M&S for several years in various roles. Charges for MCCARTHY & STONE RETIREMENT LIFESTYLES LIMITED (06622231) More for MCCARTHY & STONE RETIREMENT LIFESTYLES LIMITED (06622231) Filter charges Filter charges Outstanding / part satisfied 152 charges registered 45 outstanding, 106 satisfied, 1 part satisfied Charge code 0662 2231 0132. All we need is decency and accountability. It is the intention of McCarthy & Stone Management Services to ensure the service charge budgets are set as accurately as possible. Following that I wrote about the key issues that are driving the future of this market (you can see my earlier posts by clicking on “Retirement Housing” in the Topics list). If buying a retirement home pay attention to service charges and dont believe everything you are told. Thank you for your comment. Once my mother in law deteriorated the manager of the complex did all she could to chase her out- it was heartbreaking and very stressful. Always happy to help and go that extra … Strong minded and always wanting a challenge. The board of Bidco - a wholly-owned indirect subsidiary of Lone Star Real Estate Fund VI - made the offer today. Were you pressured to accept a low offer in order to sell quickly? The company and sense of community is exactly what my mother wants. It is a bonus too knowing we don’t have to mow lawns or to worry about strangers prowling outside. Car parking has been restricted by planning guidelines for many years, all in a move to promote public transport and reduce carbon emissions. Just hoping it’s not too large a sum! Work has started a week later, today, as another emergency took priority. But one often finds there is a lot of shared history once you start talking which is nice and we don’t have to go outside to find it – though being able to sit in the garden with friends in summer is a bonus. There have been teething problems but so far most of them have been addressed, albeit it has taken a long time in some instances. Do you agree with McCarthy & Stone’s star rating? Customer services made noises but weren’t much help if it is a big or continuing problem. 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 . By ignorance and money Joby, i ’ M hopeful that she ’ ll be very happy there well... 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