Mugiemoss Road, Aberdeen
An 83 acre brownfield site, where planning was obtained for 900 residential units
Mugiemoss Road, Aberdeen
The site was purchased without planning permission, subject to various tenancies producing an income of £800,000 pa
Key Facts
- 83 acres of land.
- Planning obtained for 900 residential units.
- Purchased for £10,000,000 sold for £30,000,000.
Project Highlights
- Off-market purchase Purchased from an owner-occupier for whom the site had become a liability. The deal exchanged in 2009, completed in 2010 and planning was obtained in 2011.
- Navigated complex structureThe process was extremely complicated involving the demolition of the former paper mill, utility diversions, provision of a new road and removing contamination from the site.
- A neighbourhood for the futureThe land with planning was sold for in excess of £30,000,000 to Barratt Homes. Today, the area is unrecognisable with a new residential neighbourhood established.
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