McCarthy & Stone Plc Retirement Properties

[moorfield]

Hello All

I'd be interested if anyone has had any dealings - either selling properties to, or buying/letting properties from - with this FTSE listed company which develops retirement properties, and can comment on any experience with them positive or negative. My father in law has recently received an offer from them to purchase his house at a premium above market value for development, something we are currently giving some careful consideration to.

Thanks vm
M

[6Tricia]

I have a friend who, together with two neighbours, sold their properties to McCarthy & Stone several years ago for what I considered to be an astronomical figure! They buy properties and squeeze in as many flats as they can get planning permission for. At the end of my street they bulldozed two Victorian houses 10 years ago to build 38 retirement apartments, some of which are still available for sale or to rent!

I have to say that my friend was happy with the deal she made even though it meant seeing her home for 25years demolished.

Tricia

[moorfield]

Thanks 6Tricia.

[moorfield]

I have to say that my friend was happy with the deal she made even though it meant seeing her home for 25years demolished.

My father in law's discussions with this company continue. Despite the premium above market value they are offering, the "option agreement" they are pressing to sign is loaded very heavily in their favour (and in fact is not an "option" anyone familiar with financial derivatives products would recognize). So my advice for anyone googling this in future: ignore the numbers and get an independent solicitor on board asap to handle it (and charge their fees back to the company).

[dshepuk]

Hi moorfield,

That's very interesting - is there a way I could contact you offline to discuss?

Thanks