Mystery buyer emerges for major Aberdeen housing development

25/06/2024

TheCountesswells site in Aberdeen, which has been on the market for over two years, is now up for sale. Administrators have announced that negotiations are “progressing” with a potential buyer for the former Stewart Milne site.

Shepherd Chartered Surveyors were brought in to find new owners for the project in May 2022 following the collapse of Countesswells Development Limited (CDL) due to the downturn in the oil and gas industry and the impact of the Covid-19 pandemic, leading the company into administration.

The project, which includes plans for thousands of homes, as well as shops and schools, was established by CDL, a subsidiary of the Stewart Milne Group (SMG).

The SMG went bankrupt in January of this year, resulting in the loss of hundreds of jobs.

The future of the site has remained a mystery, with selling agents being tight-lipped about it.

However, a spokesperson for the joint administrators has confirmed that the goal is to complete the sale at the earliest possible moment.

The site is now listed for sale on Shepherd’s website.

There are still questions about when the future homes will be constructed.

Since the project began construction in 2015, a total of 900 homes have been built by various contractors, including Stewart Milne, Barratt, David Wilson Homes, Kirkwood, and Chap Homes.

But the plan is for more than 3,000, meaning two-thirds of the development is still up in the air.

Despite this, Barratt, the current housebuilder on the site, is committed to continuing construction.

Barratt is in the process of building 131 homes and has plans to construct another 318, including its ongoing Kings Gallop scheme.

Felipe Ferreira, the north division sales and marketing director for Barratt, has confirmed that the company will continue to build homes on site and will proceed with construction as planned.

A spokesman for the joint administrators said: “Countesswells is a significant housing, leisure and retail development project and as such the administration and sale process has been time consuming.


“During the administration process the joint administrators continue to manage the site whilst also progressing discussions with an interested party.


“The joint administrators aim is to complete a sale at the earliest opportunity and will announce any further developments in due course.”

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