McCarthy & Stone to create 400 jobs as part of £2bn expansion

 
Kasmira Jefford
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RETIREMENT housebuilder McCarthy & Stone announced plans yesterday to launch in three new regions and create 400 jobs as part of its expansion plans to meet booming demand from Britain’s ageing population.

The property developer has pledged to invest £2bn on land over the next four years as it looks to double in size and develop more than 12,000 homes for the expanding retirement market.

The number of people aged over 85 is expected to double by 2030, according to projections, while over-65-year-olds are set to increase in number by 51 per cent.

The company, which currently operates across six regions, said its north, south west and Midlands offices will each be divided into two “more concentrated regions” with their own teams responsible for delivering schemes.

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 focussing 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.”

The move comes after McCarthy & Stone launched offices in north London last summer – its first new regional office for 14 years. In December, the group secured a £200m loan from its lenders.