The UK’s largest developer of retirement homes has pledged to use Modern Construction Methods (MMC) on 40 new sites over the next two years.
McCarthy Stone, which operates 475 retirement residences across the UK, has set itself the target of developing five new sites, followed by 10 in 2023 and 25 in 2024.
The announcement marks a commitment by the developer to build half of all future retirement communities using this method.
In a statement, McCarthy Stone said the decision supported the government’s agenda to provide more supported housing for older people and to provide greener and more affordable homeownership options.
This MMC solution will be delivered in partnership with Leeds-based Sigmat, with whom the developer signed a partnership agreement in December 2020.
They completed their first joint project together in 2021 at McCarthy Stone’s Hewson Court in Hexham, Northumbria.
John Tonkiss, Managing Director of McCarthy Stone, said: “MMC is a game changer. Sigmat’s unique solution will further increase the quality of our constructions, control our costs and, most importantly, build more energy efficient and greener communities.
“This announcement paves the way for a more profitable and sustainable future, and our long-term goal now is to build 50% of all our new retirement communities in this way.”
McCarthy Stone, which has built 56,000 homes in the UK across 1,200 developments, has been hit hard by the coronavirus pandemic, with sales nearly halving in the first half of 2020-21. However, the retirement specialist was acquired by US private equity giant Lone Star Real Estate Fund for £647m late last year.
In February last year it became the first care home builder to register as a for-profit housing provider with the social housing regulator.