The sale of Countesswells development remains pending amid complex negotiations.
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Negotiations surrounding the sale of Aberdeen’s Countesswells development are still in progress, nearly a year after the site was put under offer. The administrators involved have acknowledged that the process is taking longer than initially anticipated, raising questions about the future of this significant project.
Background of the Countesswells development
The Countesswells development, which is part of a larger £800 million initiative, was originally managed by Countesswells Development Limited (CDL), a subsidiary of the Stewart Milne Group (SMG). The project aims to create a vibrant community with thousands of homes, retail spaces, and educational facilities.
However, the development faced significant challenges due to the downturn in the oil and gas sector and the impacts of the Covid-19 pandemic, leading to CDL entering administration in early 2022.
Current status of the sale
As of now, a mystery buyer was identified in June 2022, but the sale has yet to be finalized. Shepherd Chartered Surveyors, appointed to oversee the sale, has indicated that the site remains under offer on their website. A spokesperson for the joint administrators confirmed that discussions are ongoing, albeit complex, and that they are committed to reaching a successful sale.
Impact on the community and future plans
Since construction began in 2015, approximately 900 homes have been completed in the Countesswells community, with builders such as Barratt and Stewart Milne contributing to the project. However, the overall plan includes over 3,000 homes, meaning that a significant portion of the development is still uncertain. Barratt is actively continuing construction, with 131 homes already finished and an additional 318 planned, including the current Kings Gallop scheme.
In a recent development, local councillors decided against plans for a new secondary school, opting instead for a replacement for Hazlehead Academy that can accommodate 1,600 pupils. This decision has raised concerns among residents, as the school was seen as a key selling point for many who purchased homes in the area.
Despite the challenges, Barratt’s North Division Sales and Marketing Director, Felipe Ferreira, has assured that the company will maintain its commitment to building homes on the site, emphasizing that operations will continue as normal. The future of the Countesswells development remains a topic of interest, as stakeholders await the outcome of the ongoing negotiations.
