Mystery Buyer Emerges for Major Aberdeen Housing Development

The Countesswells development site in Aberdeen, which has been on the market for over two years, is now under offer. Administrators have announced that negotiations are “progressing” with a potential buyer for the former Stewart Milne site. The project, which includes plans for thousands of homes, as well as shops and schools, was established by Countesswells Development Limited (CDL), a subsidiary of the Stewart Milne Group (SMG). However, 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. Now, a spokesperson for the joint administrators has confirmed that the goal is to complete the sale at the earliest possible moment.

Negotiations and Uncertainty

The Countesswells site has been a topic of speculation and uncertainty since its establishment. Shepherd Chartered Surveyors were brought in to find new owners for the project in May 2022 following the collapse of CDL due to the downturn in the oil and gas industry and the impact of the Covid-19 pandemic, leading the company into administration. Despite this, Barratt, the current housebuilder on the site, is committed to continuing construction. Felipe Ferreira, the north division sales and marketing director for Barratt, has confirmed that the company will proceed with construction as planned.

The Path Forward

The joint administrators aim to complete the sale at the earliest opportunity, and further developments will be announced in due course. The Countesswells site represents a significant housing, leisure, and retail development project, and its future remains a topic of interest for the community.