Both the FT and the Sunday Times are suggesting that the hedge-funders who took on the debt at McCarthy and Stone could be in for a killing if it floats next year for £500 million. Both papers report that says hedge fund owners pumped £367 million of equity and a five-year loan to slash borrowings.
McCarthy and Stone has decided to give Peverel its marching orders at 25 retirement sites where it still owns the freeholds – although two weeks ago it said it was not going to do so (see below). Many of the sites still have flats for sale and it is likely that the housebuilder that pioneered all […]
A son trying to sell his deceased mother’s retirement leasehold flat has been told that he will have to pay double the council tax on the empty property. The flat has fallen foul of Chester’s efforts to penalise owners of empty properties so that they are brought back into use – and increase revenues for […]
McCarthy and Stone has replied on its website to the exposé carried out by Channel Four’s Dispatches on Monday evening. You can read the page here It says: “Treating our customers with fairness and respect is at the cornerstone of what we do and over the course of the last 35 years, our staff have […]
Tonight’s Dispatches programme on retirement leasehold was a brilliant example of television journalism that was extremely damaging to both McCarthy and Stone, and to Peverel. It is excellent that Peverel’s disgraceful treatment of the pensioners at Strand Court, Rye, has been given a wider airing. Read original story here or search Strand Court on this […]
Tomorrow night (Monday) at 8pm Channel Four’s Dispatches carries out a special investigation into the fraught world of retirement leasehold with much of the material provided by an undercover pensioner ‘spy’. Carlex activists have been interviewed for the progamme, and Carlex/LKP has given the filmmakers, October, full assistance over the past few months – although […]