McCarthy & Stone has announced it is to launch its first new regional office in Colney Heath in September.

The new region will cover North London and the counties of Buckinghamshire, Bedfordshire, Hertfordshire and Essex. It is another sign of the returning confidence in the housebuilding sector as well as the growing demand for retirement housing.

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The new region is being established with investment capital totalling £300m for land and build over the next four years to deliver approximately 1,800 new homes. In its first financial year, the new region will seek to buy 15 new sites, with plans to increase site purchases year-on-year. The investment will be part of the company’s £1.5 billion spend on land and build across 250 sites in the UK to deliver a total of 10,000 new homes over this period.

Ali Maruf will become the Regional Managing Director for the region when it opens in September. Ali has been with McCarthy & Stone since 1997 and is currently Land Director for the area.

(CD)