Finance

Countesswells housing development land brought to market



Land previously owned by the developer of a new 3,100-home community west of Aberdeen has been put up for sale.

Countesswells Development, owned by Stewart Milne Group, went into administration in November, blaming the oil and gas downturn and pandemic.

To date, circa 725 homes have been built at Countesswells by Stewart Milne, Barratt, David Wilson Homes, Kirkwood and CHAP Homes.

Now 78 acres of residential and commercial land is being marketed for the next stage of the development.

Work has already started in October on a £17m primary school and nursery, while commercial units have also been built or are currently under construction.

Shepherd Chartered Surveyors won a tender process and has now been appointed by joint administrators FRP Advisory to sell the land.

Aberdeen-based Shepherd’s managing partner Chris Grinyer said: “We are delighted to secure this major instruction to market this substantial prime development site due to our acknowledged established presence and performance in this competitive market sector.

“The local market is showing real signs of improvement, reflecting increased economic activity in the area, and we anticipate that this will result in good interest being generated in Countesswells.”

Tom MacLennan, a restructuring partner at FRP Advisory, added: “Following on from securing the development site, we are now in a position to bring this unique development to the market.

“This is an opportunity for developers to acquire a substantial prime development in Aberdeen and progress it to a conclusion.”

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