Countesswells setback as Stewart Milne subsidiary enters administration
November 29 2021
A giant new town currently under construction near Aberdeen has been dealt a blow after Countesswells Development Ltd (CDL), a subsidiary of Stewart Milne Group, went into administration.
To date around 900 homes have been built or are currently under construction of a planned 3,100 properties, with workers expected to remain on-site. FRP Advisory has been appointed as administrator for the £400m scheme.
A CDL spokesperson informed the Press & Journal: "We firmly believe in the future of the project and will, of course, co-operate fully with the administrators to help ensure that the vision, which many people share for Countesswells, is realised.
“In the meantime, all existing construction work on the affordable homes at Countesswells will continue, and these homes will be completed and ready to move into as planned.”
Tom MacLennan of FRP added: “Our immediate priority will be to secure the site and finalise current construction, including completion of much-needed affordable housing projects.
“We will be reviewing the various land bank assets in line with the development plans and will work closely with the various stakeholders on the future development of the site.”
The Countesswells website has been taken offline.
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