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| Marine Court is at the corner of Taylors Avenue and Hardys Road |
NEW American management is in prospect for Marine Court - the retirement apartments complex in Cleethorpes.
Private equity firm Lone Star has made a bid for McCarthy & Stone which redeveloped the Marine Court site after demolishing the Huntleigh Lodge care home.
Based in Bournemouth, McCarthy and Stone has built up a portfolio of similar developments in the UK. Most residents are in their 70s or older.
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| Here come the Americans! |
Lone Star, which made an unsuccessful approach to buy the Asda supermarket chain in summer, is thought to be one of a clutch of US corporations scanning the UK with a view to acquiring assets at discounted prices.
McCarthy is attractive because of its strong position in a country with an increasing population of older people with an undersupply of suitable housing.
Its directors are recommending that the bid is accepted subject to safeguards for the rights of existing leaseholders.
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| The apartments are well screened at the rear and have attractive gardens |
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