BOURNEMOUTH-based retirement housebuilder McCarthy & Stone is aiming to create 400 new jobs under plans to effectively double the size of its business.
The company said it will invest £2billion over the next four years on land and buildings to develop 12,000 new homes across 300 locations.
The growth will effectively lead to a doubling of the firm’s business of building accommodation for older people.
Chief executive Clive Fenton said: “With the growing demand for high-quality retirement housing and our land pipeline in excess of five years’ supply, we are focusing on the expansion of our business to meet this unprecedented growth opportunity. We are looking to boost our leadership team, starting with senior level appointments in these new regions.
“As the leader in the sector, we are embarking on an exciting and transformational journey to respond to the needs of a rapidly growing and increasingly discerning retirement market.
“The future is about continuing to tailor our designs to the needs and aspirations of our customers with ongoing product innovation and best-in-class customer service.”
The company cited research by the think-tank Demos suggesting that 58 per cent of over-60s were interested in moving home but were restricted by a lack of suitable housing. One quarter expressed interest in buying a retirement property – a total of 3.5m people, compared with around 110,000 retirement properties built for ownership to date.
Clive Fenton added: “We all know that there is a housing shortage, but public debate is very much focused at the first-time-buyer end of the market rather than giving equal consideration to the needs of our ageing population.” This year will also see the launch of McCarthy & Stone’s new product, known as Ortus Homes, for people aged over-55 who are in the early stages of retirement and looking to downsize.
Work began last year on one of the first Ortus developments, Azaleas, at Canford Cliffs.
Last autumn, it was revealed that the developer was to move out of its landmark Homelife House HQ in Bournemouth by the end of 2014 as its came to an end. It switched to renting the fourth floor of 100 Holdenhurst Road, known as the Abbey Life building.
