UK’s largest retirement home builder commits to 40 new MMC developments

In a release, McCarthy Stone said the decision supports the government’s agenda to deliver more supported housing for older people and provide greener and more affordable homeownership options.

This MMC solution will be provided in partnership with Leeds-based Sigmat, which the developer signed a partnership deal with in December 2020. 

They completed their first joint scheme together in 2021 at McCarthy Stone’s Hewson Court in Hexham, Northumbria.

John Tonkiss, chief executive of McCarthy Stone, said: “MMC is game-changing. Sigmat’s unique solution will further increase our build quality, control our costs, and most importantly, build more energy-efficient and greener communities.

“This announcement paves the way to a more cost-efficient and sustainable future, and our long-term aim is now 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, was 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 retirement house builder to register as a for-profit housing provider with the Regulator of Social Housing.