McStone and Anchor Hanover announce partnership

McCarthy & Stone and Anchor Hanover have joined forces to deliver “affordable for all” later living communities across England.

In partnership, McStone, the retirement housing giant, and Anchor Hanover, England’s largest not-for-profit provider of specialist housing and care for older people, will initially create 482 units across five large sites which McStone own and each with planning consent.

Under the agreement - with a gross development value of around £125 million - Anchor Hanover will pay £67 million for the development of 316 Extra Care apartments for those in the greatest need of care. And McStone will act as turn-key developer to Anchor Hanover to deliver the apartments, which will consist of 124 for affordable rent and 192 for shared ownership.

McStone will sell and manage a further 166 Retirement Living units on land close to Anchor Hanover’s sites.

The first two schemes are due to start construction in Hook, Hampshire and Hinckley, Leicestershire later this year, with the next two beginning in Bingley, West Yorkshire and Standish, Greater Manchester, in early 2021. Later next year, the last scheme in Macclesfield, Cheshire, will start.

With the mix of tenures across the schemes, the two companies said the partnership would “address the diverse needs of England’s growing ageing population at a time when it is most needed”.

They added that the agreement also met the government’s goal of increasing housing supply and boosting access to care and support for the older population.

McStone and Anchor Hanover will look to develop the partnership through embracing other opportunities to bring their offerings together.

Housing minister Christopher Pincher said: “Around one-third of children born in the United Kingdom today can expect to celebrate their hundredth birthday and housing will have an important role to play in ensuring healthy and independent living as our society ages.

“I look forward to seeing this partnership result in more high-quality, affordable retirement properties that are not just homes, but strong communities too.”

John Tonkiss, McStone’s ceo, said: “Now more than ever we need to better align adult social care policy with high-quality and ‘affordable for all’ retirement community solutions.

“This partnership is in addition to our current construction plans and forms part of our strategy to provide greater choice for customers, with different tenure options across the affordability spectrum. It marks an important step in our commitment to address this challenge while providing customers with greater choice and a more affordable product.”

Read this article on our website Click here

Housebuilder news alerts are sponsored by