He tracked this to the adjacent built in wardrobe and removed the boxes on the floor. Thanks so much for posting this report. 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. Satisfy charge 0662 2231 0132 on the Companies House WebFiling service. Thanks again for your comments. If it saves my mother from needing to go into a care home, or helps her stay independent for longer, the loss might be less than paying for care home fees. Whether it actually results in less inheritance for me and my siblings (and your children) is anyway impossible to predict. Hi Joby, I am not really sure what the Smooth Move entails as they change the names of the ‘deals’ over time. Almost immediately, problems with the building became apparent. Complaining to management is slow , time consuming and seems to be legally focused. They were the first house-builder to move into the sheltered housing sector over 40 years ago. She doesn’t want to downsize to a flat in an ordinary block where most people go out to work and she may not meet anyone, and there’s no-one to help her change a lightbulb. If there are lots of other retirement houses in the same area their flats don’t hold their value in the market. It took two years and lost 25% of its original value. My dad’s recent hospitalisation has stalled the sale, and now his memory is rapidly declining to the point of sometimes bizarre behaviour. 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 . I know my friends and other residents feel under increasing stress and the situation is becoming intolerable. 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. And don’t expect to participate in any general property price rise as this is a specialized market. She can deal with many issues and passes on maintenance requests etc but inevitably she is only the interface between us and regional HQ where building services, customer relations, management services are located. The manager is perfect and as others say you can be just as involved as you wish. If her new home is anywhere as good as this then you can rest easy. “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. Unfortunatly Covid 19 raised its’ head. Mc&S on that occasion sent residents to a hotel on the seafront for three days while the work was done. 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. Financial News Articles for Mccarthy & Stone Plc Ord 8P updated throughout the day. MCCARTHY & STONE MANAGEMENT SERVICES LIMITED is a real estate company based out of FOURTH FLOOR 100 HOLDENHURST ROAD, BOURNEMOUTH, United Kingdom. Malcolm, so glad to hear that. Several residents of this new development in the south west have been affected by construction problems, mainly water based. A spokesperson for McCarthy & Stone said: “Our policy is one of complete transparency around costs. McCarthy and Stone (5 Posts) Add message | Report. 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. 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. Work has started a week later, today, as another emergency took priority. They recommend we use their Smooth Move scheme for selling her house. I wonder if, at that stage, a survey would have revealed the problems you describe? We still like living here in this McCarthy and Stone development, with our great location and community, but these downsides have become a problem now……… Shortly afterwards received a call from them when I informed them that I thought the detached homes were poorly constructed and hugely overpriced for what they were. This week I telephoned to request them cease sending material to me, only to be informed that I could not be traced on their mailing list and that a third party organisation called Experian would have been responsible for this. Very helpful for elderly people looking for retirement homes and will help alot of people make the right choices. 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. It could of course go wrong even with their package as buyers can always mess you about. Thanks Malcolm. He/she must have had to deal with residents’ grumbles every day! McCarthy and Stone should offer a buy back scheme otherwise they will find the service charges do not cover the cost of running the whole project. McCarthy and Stone and a media firestorm in 1991 – Carlex If you buy a new McCarthy & Stone retirement flat, pay out for a full survey. 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 reality bears only a passing resemblance to the description from the sales agent There were lots of construction issues that blighted the development and the operation of the restaurant and associated facilities have been really poor. That was the deal on the property we look at, not sure if all sites are the same. In addition you pay an annual ground rent of circa £500. Ref the money side, there have been some resales and I understand prices have held up, perhaps because there is little competition round here. I started this thread about retirement housing when I wrote a post a few weeks ago on a very upmarket scheme in London. I asked to be taken off their register but continued to receive correspondence from them. Change ), You are commenting using your Google account. This was not for me, for a variety of reasons-It is down to ones personal choice, and what the Elderly/retirement/down=sizing industry has to offer is as true today as it was yesterday. McCarthy & Stone boss: Stamp duty cuts would get the economy moving again The retirement housebuilder's chief John Tonkiss talks Covid deaths, ethnic diversity and maintaining trust in the industry M&S costs and like many builders and developers, there are things we think are definitely less than 100% value and certainly not the dream as advertised. While the flats are well designed, in a nice location and with lovely neighbours and house manager, just don’t believe the wording on the advertisements of maintenance free retirement. Thanks Jen. GrumbleSmiles: did you go back to visit any M&S developments and have you published any further comments? Secondly “Assisted Living” which is an enhanced offer which provides some degree of support. FUN READING THIS BUT HAVE TO FIND WHERE I CAN REGISTER A COMPLAINT. I visited one briefly and thought it was a good idea that a couple, say, could be reassured that they could probably stay in their own flat together rather than one needing to go to a nursing home as problems arose, with the financial outlay that would entail. Some have got together to go walking, play Scrabble etc etc. Workmen were ever present but the problems remained unsolved. We and other residents here are visiting a neighbour in hospital because her relatives are even older or live upcountry. ‘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. They also have a 1% of capital charge on resale plus a small sales admin fee of £324. 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. As with all mirages it takes time to recognize what is in front of you. A new development in Bawtry, (near Doncaster), the two bed apartments are on the market for £290k to £350k. 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. It’s been a nightmare like many of those above and dealing with the company has been horrific. 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. Have obtained copy of draft lease of new-build apartment which I’ve reserved. What is obvious is the intention to move upmarket with better located sites in terms of “sea views” and presumably, but not clearly, larger size accommodation. 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. So I’m convincing myself that going with their deal is worth it for peace of mind and in the interests of my Mum getting the flat, even if we lose some money. There are 77 apartments and 23 parking spaces, the problem exacerbated by flats still being sold to car owners and we now park 3 and 4 abreast. While fitting he noticed a damp patch showing under the protective plastic put down on the bedroom carpet outside the ensuite. Overall McCarthy and Stone still seem to be trading on their historical market leader position. Good luck, Jen. Rachel, I sympathise with your dlilemma. McCarthy & Stone’s charity partner for 2019 was Beanstalk, a national learning and literacy charity for young children. 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. Next accounts made up … It’s disappointing to hear that M&S weren’t helpful with regard to dealing with the issues. If we can get past this stage, I’m hopeful that she’ll be very happy there! 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. McCarthy & Stone Resales. But this is not a great debut for McCarthy and Stone Management Services …, Plenty of opportunities … to load the bill, Government will cave in to retirement house builders over ground rents, says Times, Realities of leasehold spelled out during the Housing Bill, Latest news from Leasehold Knowledge Partnership, Here is how to avoid dumping the cladding scandal bill on leaseholders or taxpayers, Government steps back from dumping all cladding costs on leaseholders, Grenfell is becoming our worst corporate scandal, says Dominic Lawson in Sunday Times, Do NOT buy a new property with ground rents, LKP calls for levy on developers and freeholders over cladding, Channel Four Dispatches exposes retirement leasehold. Change ), You are commenting using your Twitter account. In August 2015, McC & S opened a new development on the east coast of England. Often they find they have been to school together. 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 Although we are all being careful to maintain social … It’s been a real nightmare for the family and if you want privacy and peace in your latter years don’t buy a M&C appartmrnt. 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. 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. 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 the way, there’s a M&S development nearby that was built in 2014 and a flat there that was sold new for £380,000 has just sold for £499,000 after a short time on the market. 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. My experience was very different. The company and sense of community is exactly what my mother wants. This is very helpful Jen, many thanks for your comments – has allayed my fears xx, We have been here in Sykes Court Huddersfield for 7years and It was undoubtedly the best decision we have ever made. This was partly driven by overpaying at the outset and undoubtedly by the dreadful reputation that the facility has with local people. We provide the … Thanks for the additional information. Retirement housebuilders will only reform when they are forced to do so, Lord Best tells property conference. That was a horrific story, Stephen, and certainly a very poor choice by whoever at M&S did the interviewing and gave her the job – they should be sacked too. The service charge budgets represent those costs that would be expected to be incurred in a normal year of operation with a full development. Customer services made noises but weren’t much help if it is a big or continuing problem. Always happy to help and go that extra … We have been living in our M&S seaside development in the southwest for nearly 2 years now. The HIU units were supplied customised to the requirements of each project, … By September, the development was shrouded in scaffolding. One hour of domestic support is provided within the service charge for assisted living. and service charges. The plumbers told us each shower tray was a different size (!) I had a similar experience when I resold a property in a McCarthy and Stone scheme in Gloucester. 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? Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. We still have plumbers in the building, 2+ years since the first residents moved in. Mary Childs 1 review. Wish us luck! My best wishes to you and you father. – I’ve already got cold feet. Please check the costs and charges of your investment and our service before investing. YOU WILL LIVE TO REGRET IT, GUARANTEED. Shortly afterwards, McCarthy and Stone sold the company. My parents in law live in a M&S building and we’re finding the tile surround of the shower room quite slippery. Strong minded and always wanting a challenge. 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 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. Report this profile; About . It is the intention of McCarthy & Stone Management Services to ensure the service charge budgets are set as accurately as possible. Now having second thoughts about proceeding with the purchase. It is a bonus too knowing we don’t have to mow lawns or to worry about strangers prowling outside. Assistant Service Charge Accountant at McCarthy & Stone Bournemouth, United Kingdom 32 connections. – “Caveat emptor” 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. ( Log Out /  It will be good to see if your views change after a few months. The deal now is that M&S engage New Homes Group to act as agents (for them). Many thanks for the comments on the advantages of living with McCarthy & Stone and the openness of the service charge process, we greatly appreciate you covering these aspects. She (astonishingly I thought for a person who works in this sector) didn’t know what a loop system was, but after I explained it to her she made enquiries and confirmed that there will be one. Now I think it is water seeping through the lounge ceiling again….. Good luck, Joby, I hope the move goes smoothly. Entry age for RL is 55 years up and we are apparently the younger, independent and active end of the market – although residents are actually between 60 and 92 years of age. I said in an earlier reply there are definitely a few things less than 100% value and not the dream as advertised. Mccarthy News Headlines. 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. Could you possibly give readers some idea of what the problem is/was? Do you agree with McCarthy & Stone's TrustScore? Lots of complaints and lawyers intervening seems to be the reality of McCarthy Stone assisted living. 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. Or would the alternative be an old people’s home? 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. 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. High monthly service charges. I told him I see a bigger story than the initial sales of the units which is the resale values of these properties. 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). 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 have over 40 years’ experience in the industry and, during this time, they’ve built over 56,000 homes across 1,200 developments. As there presently are no bodies effectively regulating this business nothing will change. After reading your very useful post last October, I wrote to the M&S sales executive asking if a loop system was going to be built into the communal lounge in the Retirement Living development my mother has reserved a flat in. As I suspected! There is no parking for visitors, carers, maintenance companies etc. Graham, if you were willing to mention some details, I’d really appreciate it. (you can see my earlier posts by clicking on “Retirement Housing” in the Topics list). There were excessive draughts and water ingress through the lounge and bedroom picture windows which opened onto the balconies in many apartments. Finally, what seems to be a re-branded model obscurely referred to as “Ortus Homes”, which although it’s claimed to be a pioneering concept, seems only to be a stripped down version of their original sheltered housing model. Families come to stay in the hotel style guest room and we get to know each other’s kids. We have been instructed we shall be booked into a local hotel on a rota system. See insights on McCarthy & Stone including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. But the comments on my initial post do raise a few common concerns about slow response to repairs. Service charges vary from scheme to scheme but seem to average around £200 per month. no comments here. 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. 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. This seems very expensive considering you have most of your bills still to pay on top. What was the attitude of the House Manager? Do you have adequate cover in his/her absence? (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 cost of the new M&S flat is at least £100K maybe £150K more than an equivalent size ‘used’ flat. Assume a template is employed, but terms seem heavily weighted in favour of Landlord. As usual, no sighting of senior management, no letter of apology for the inconvenience from them, just a note from our lovely house manager. 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. 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. These guys have long become followers not the market leaders they once were. have had a bad experience with Retirement Living Plus by McCarthy & Stone. My mother’s is priced currently at a 20% loss but other flats are looking to lose more than this. Lone Star had initially agreed a deal to acquire the business for 115p per share, but ahead of the vote … They now have sub-divided their products into three basic divisions. Add the £7,000 a year maintenance service charges and McCarthy and Stone should be ashamed. Retirement Living Plus developments cost more as some staff live on site and they have extra facilities like a cafe, library/games room, perhaps hairdressers calling in and help you can buy/they provide as needed, whether domestic or caring. Alot of elderly people prefere to live at home and as a result theamount of retirement homes available are increasing. Sounds as though the leaks would only have become apparent once people are living there, if the main source is water use in other flats. We were a bit peeved as our favoured estate agent suggested a higher market price for our old flat, but in the end we sold in time and it made it all fairly painless as the price for old and new flats more or less equated. Our care services support our customers’ evolving needs. An M&S out of hours phone number is available in a book and we have volunteer wardens amongst the residents should there be a fire but who can sometimes help on other matters too. But there are people to chat to when you meet in corridors, in the laundry room, at coffee mornings. 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. Churchill Retirement Living an McCarthy & Stone competitor, was set up by John McCarthy who also founded McCarthy and Stone! No one wants to make an investment which is bound to lose. 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 timescale for completion is 4 months and she has to sell her house. With 35 apartments I would expect around 35 spaces for cars. The well-insulated airtight building fabric and a mechanical ventilation system with heat recovery ensures optimal comfort across all one and two bedroom apartments. Thinking of buying a McCarthy & Stone property?