Aberdeen’s Countesswells site is now under offer after more than two years on the market.
Administrators have revealed talks are “progressing” with an interested party for the former Stewart Milne site.
Shepherd Chartered Surveyors was appointed to find new owners for the scheme in May 2022 after Countesswells Development Limited (CDL) foundered in the wake of the oil and gas downturn and the Covid-19 pandemic and plunged into administration.
The scheme includes plans for thousands of homes, as well as shops and schools.
CDL, set up to manage the £800 million development, was a subsidiary of the Stewart Milne Group (SMG).
Stewart Milne Group went bust in January this year, with hundreds of jobs axed.
Sale of Countesswells site at ‘earliest opportunity’
Mystery has surrounded the future of the site with selling agents remaining tight lipped throughout.
However, a spokesman for the joint administrators today confirmed it is “progressing discussions with an interested party” with the “aim to complete a sale at the earliest opportunity”.
The site is now showing as being under offer on the Shepherd’s website.
About 900 homes have been built in the community since construction began in 2015 by a mix of builders 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.
Commitment from housebuilder
In November last year councillors axed plans for a new secondary school and instead opted to go-ahead for plans for a 1,600 pupil replacement for Hazlehead Academy.
This came despite warnings that the facility had been something of a “selling point” for the hundreds who have already bought new homes.
Housebuilder Barratt is currently in the middle of building at the development.
It has already finished 131 homes with another 318 to be built, including its current Kings Gallop scheme.
Felipe Ferreira, north division sales and marketing director, confirmed Barratt will continue to build homes on site and “carry on as normal”.
‘Time consuming’ process say Countesswells administrators
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.”