May 26, 2019

£15,000 for Pegasus Court leasehold retirement flat in Rochdale – which once sold for £85,000

Another disastrous retirement leasehold resale price, where neighbours have paid £165,000 A leasehold retirement flat at Pegasus Court, in Rochdale – built by Pegasus Retirement – is up for auction with a headline price of £15,000 later this month. The property has been sold twice before: for £59,750 when new in 1997, and for £84,950 […]

MP Huw Merriman tells prime minister retirement ground rents should be zero

Tory MP Huw Merriman called for zero ground rents for retirement housing at prime minister’s questions today. He talked of pensioners trapped in McCathy & Stone properties, which have fast depreciating values. He named Vincent Tchenguiz, whose Tchenguiz Family Trust in the British Virgin Islands ultimately owns the old McCarthy and Stone freehold book, and […]

Dear Mr Fenton: I don’t regret my purchase at Rosewood Court, but ‘leasehold is a rip-off’

All re-sales at Rosewood Court should falls in value from new, with several down £50-£60,000. The highest fall is flat 21 showing a fall from February 2004 to May 2017 of £81,500 Clive Fenton, CEO, McCarthy & Stone Dear Mr Fenton, My late wife and I purchased a McCarthy & Stone retirement flat at Rosewood […]

Resale disaster zone: Burlington Court in Bridlington, where one flat has sold for £36,000

5 flats sold for less than £50,000. 12 flats less than £60,001 The dismal state of retirement flat resales is starkly illustrated by figures from the Land Registry concerning Burlington Court in Bridlington. Five of the flats here have been sold for less than £50,000; seven of the flats have sold for less than £60,000. […]

Ground rents are essential to McCarthy and Stone’s business model

… but leaseholders are concerned it is selling freeholds to anonymous buyers … McCarthy and Stone complains about ‘right to reply’ to LKP / Better Retirement Housing articles McCarthy and Stone told The Times yesterday that there would be fewer of its form of retirement flats if the government reduces ground rents to a minimal […]

Abysmal retirement housing values revealed on the Land Registry

Campaign against retirement leasehold exploitation examines official re-sale prices for McCarthy and Stone, Churchill Retirement Living, Audley Retirement, Retirement Villages, Retirement Security, Anchor and Pegasus A dismal picture of retirement housing values on re-sales is revealed by Campaign against retirement leasehold exploitation from figures in the Land Registry. For years we have been saying that […]

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