Ryden Sells Former Duncarse Sites on Behalf of Administrators
19 June 2009
Ryden, on the instructions of PricewaterhouseCoopers, the Joint Administrators of Duncarse Ltd and Duncarse Riverside Ltd, has successfully sold three sites formerly owned by the Dundee based residential developer which went into administration in late 2008.
The sites are a 5,500 sq ft office building, which was let to The Scottish Ministers in April this year for five years, at West Green Park, Liff, by Dundee. The property, a detached Victorian building, has future development potential with planning permission for conversion to eight flats. The second and third sites, also at West Green Park, are a children’s nursery investment and adjacent development land with planning consent for a restaurant.
Andy Boal of Ryden in Dundee reports that, “a number of offers were received at a closing date and all three sites have now been sold to two separate private investors. The sale prices achieved reflected the strong level of interest and represent excellent results, particularly given the current economic climate”.
Ryden is also currently marketing a prestigious 2.7 acre residential site at Riverside Drive, Dundee on behalf of the Joint Administrators. This site has planning permission for 202 flats and news on its disposal is expected shortly.
