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mccarthyandstone.co.uk

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Interested in buying a property? Please visit…

mccarthyandstone.co.uk

Investment Case

An experienced housebuilder with clear differentiation.

We are in an unparalleled position to provide investors with access to a rapidly growing demographic and a company with unique competitive strengths.

We are the UK’s leading retirement housebuilder
  • Largest developer of privately-owned retirement property in the UK with a c.70% market share1
  • Only retirement housebuilder with coverage in all UK mainland regions
  • Experienced management team with deep sector and financial expertise
  • Awarded Five Star customer satisfaction rating for a record 11 consecutive years
We have a distinct business model
  • Focus entirely on retirement housing, a high-margin business with distinct low-risk characteristics
  • Differentiated business processes with competitive advantages in an industry marked by barriers to entry
  • Tailored business model that targets different sites from mainstream housebuilders
  • Over 39 years, the Group has sold over 51,000 apartments
We operate in an exceptional growth market with positive demographics
  • Customer base is the fastest growing demographic in the UK
  • Almost one in four of those aged 65 or over are keen to move to purpose-built retirement properties2
  • Structural undersupply of retirement housing, set within the context of considerable undersupply of general housing in the UK
  • Almost three-quarters of all household growth to 2039 will come from over 65s3
We have a strong financial position and high-quality land bank
  • Strong financial track record with robust balance sheet
  • All planning consents in place to deliver targeted sales to FY18
  • Enough land under control to be a 3,000 unit per annum business
  • Robust margins and identified operational efficiencies to deliver improved ROCE over the medium term
1 Based on 3,453 registrations of cross-tenure properties specifically designed for the elderly with the NHBC during calendar year 2015, of which 2,672 were registered by McCarthy & Stone
2 YouGov Research for McCarthy & Stone in June 2015, published in Retirement Confidence Index (2016)
3 The Department for Communities and Local Government (DCLG) projections (July 2016)

Investment Case