McCarthy & Stone are due finally to publish their interim results later this week.
According to city sources, they are expected to reveal a substantial trading loss.
Sensing trouble ahead McCarthy & Stone altered their business strategy by booking more pre built sales, moving to more build to rent developments and increasing revenues from their property management division.
We all know how increasing revenue from property management to suppport company debts ended up withg Firstport. Clearly McCarthy & Stone are embarking down the same road?
About Firstport understands that a financing deal worth £300,000,000 to fund the buy to rent developments has fallen through.
This comes at a time when the first McCarthy & Stone development in England has just gone Right to Manage,with others expected to follow.
