Sir Peter Bottomley is to raise with Churchill Retirement – a private company owned by the McCarthy family – its decision to continue to charge ground rents on sites that have not yet opened. New ground rents were banned under the Leasehold Reform (Ground Rent) Act 2022, which came into force at the end of […]
Bottomley to raise with Churchill Retirement its decision to continue charging ground rents
The Times says families ‘lost £3 billion’ on resales of leasehold retirement flats, while developers and freehold speculators made millions
The Times today suggests that families have lost £3 billion on the resale of leasehold retirement flats between 2001 and 2015 in a series of articles that add up to a devastating investigation of the sector. Some 80 per cent of the properties sold had fallen in value, with an average loss of £38,846, the […]
McCarthy without Stone: Churchill Retirement Living ‘to spend £500 million on new sites’
Churchill Retirement Living, the retirement leasehold developer controlled by the McCarthy family who built up McCarthy and Stone, is spending £500 million on new sites over the next three years, says the Times. In what appears to be a re-write of a press release, the article echoes the company’s message that the retirement leasehold sector […]