The trade body the Association of Retirement Community Operators announced yesterday that ground rents are “not essential” in retirement housing and it backs the government in ending them. The announcement directly contradicts McCarthy and Stone and Churchill. Both have argued that they need ground rents for the viability of retirement housing projects and without them […]
BetterRetirementHousing.com reports the dismal state of retirement housing resales today, which has been taken up by BBC R4 MoneyBox. In addition, the Elderly Accommodation Counsel, which provides a database of retirement sites around the country, claims half retirement housing sells at a loss on resale. The issue was prompted by the dismal resale figures at […]
BetterRetirementHousing.com has found that McCarthy and Stone is selling retirement freeholds to Adriatic Land, whose beneficial owners remain hidden. Adriatic Land freehold owning companies, which are managed by Will Astor’s Long Harbour fund, have nominee directors from the Sanne Group, based in Jersey. Pensioners in retirement sites – and any other leaseholder for that matter […]
DCLG Consultation Paper On Leasehold And Ground Rents – Statement – McCarthy & Stone See our response to the DCLG consultation paper on Leasehold and Ground Rents It is a fair bet that McCarthy and Stone will be making a strong submission to the DCLG into the leasehold houses and ground rent scandals firmly urging […]
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.
Last Friday, Peverel was expelled from the House Builders’ Federation campaign to reinvigorate the retirement housing market. Its logo was removed from the campaign’s website, while earlier in the week the homeless charity Shelter also decided to jettison the campaign. AgeUK – which last year removed its logos from the Peverel Retirement site – had […]
LKP met shadow housing minister Emma Reynolds yesterday to discuss problems in the leasehold sector. The meeting was organised by Jim Fitzpatrick, the Labour MP for Poplar and Limehouse, who has some of the richest and poorest leaseholders in the country in his constituency. He has become a firm stalwart in fighting for leaseholders.
The charity Shelter appears to have ceased involvement in the ‘Campaign for Housing in Later Life’, which Campaign against retirement leasehold exploitation revealed on April 9 registered its website to the address of the Bournemouth HQ of McCarthy and Stone. The Shelter logo that appeared on the campaign’s website has been removed. Since publication by […]
The Campaign for Housing in Later Life has been traced back to the Bournemouth headquarters of McCarthy and Stone. The website, which seems to have been started last autumn, has a registered IP identification that uses the same postal address as the retirement leasehold developer. Other backers whose logos adorn the website include Peverel, Anchor […]
The influential BBC Radio 4 programme You and Yours yesterday featured retirement leasehold. This is an area of “most concern” according to Douglas Cooper, of the Office of Fair Trading, which is carrying out an inquiry into leasehold management. The programme can be heard here and the item begins 46 minutes into the programme.