Stewart Milne Homes said it could not progress with Den View at this time as there was “no certainty” as to when the land could be purchased.
John Low, managing director of the North Scotland division of Stewart Milne Homes, said it was hoped the development could go ahead once legal issues were resolved.
He said potential buyers had been advised in June that there was no certainty that Den View could move forward.
He said: “We at Stewart Milne have an absolute desire to progress with the development.
“At this point in time we are unable to progress because I don’t have the certainty with regard to the purchase date of the land and can therefore have no certainty to the production date.
“This is an unfortunate position.
“We have taken all the necessary steps to purchase the site and have been unable to do so. We are now seeking legal remedy.
“Once or if this is all resolved, clearly we would like to come back to the market place.”
He added that reservations are conditional until missives are concluded, which had not happened in any of the cases.
All £500 reservation fees will be returned, he said.
Stewart Milne homes hope to proceed with build after legal issues resolved
