The increase comes as the retirement homes specialist saw pre-tax profit rise to £88.4m in the year to August 31 2015 from £63.2m as turnover grew to £485.7m from £387.8m.
John White, Group Chairman, said: “The Group is well-positioned to benefit from this unprecedented market opportunity, and the scale and quality of our land bank provides significant visibility over the medium-term for our potential rapid growth.
“Against this backdrop, we have increased our investment target for land and build to £2.5 billion over the next four years and remain on track to deliver 3,000 specialist retirement apartments per year over the medium term, doubling the size of the business.”
The firm acquired 90 new development sites last year and currently has a land bank of 10,087 plots.
White said: “It has been another strong year of profitable growth for McCarthy & Stone.
“We continue to capitalise on the increasing demand for specialist retirement housing, driven by a rapidly ageing population and a structural under-supply of this form of accommodation in the UK.”