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Dealership sites sought in £100m initiative by retirement homes builder

Time 10 months ago

Car showroom sites are being sought in a £100m move to build more retirement homes.

The land acquisition fund has been launched by McCarthy & Stone in response to the prime minister’s call to ‘build, build, build’ and follows ventures with a range of dealerships over a number of years.

It is now looking to work with businesses and landowners to snap up 60 or more sites including those currently owned by dealerships and turn them into retirement communities.

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Central brownfield land of between half an acre and five acres is wanted, and ideally it should have level access to shops and be prominently near the high street or amenities. Every type of land deal will be considered – unconditional purchase, conditional contract or option agreement.

McCarthy & Stone chief executive John Tonkiss, pictured, said: ‘The prime minister is spot on in recognising that housebuilding will be central to the UK’s recovery effort, and more and better housing for older people is a critical part of the mix.

‘We believe our land acquisition fund has the potential to yield long-lasting knock-on effects for the automotive sector, not least because the regeneration of brownfield sites will free up capital for landlords and business owners looking to reinvest in growth and create jobs.

‘What’s more, centrally located retirement communities have a role to play in the government’s drive to revive town centres, and new developments which bring new customers into an area could provide a lifeline for local businesses.’

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“We now need new land, and lots of it, in order to satisfy this vital initiative.’

He added that there would be ‘generous commissions’ for the right sites.

Private apartments and bungalows will be built, with on-site care and support services.

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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