| The downturn in the property market has resulted in the project to develop The Maltings, a block of luxury apartments and penthouses where prices start at £169,950, on the town’s Victoria Street, to be effectively mothballed.
Stirling-based housebuilders Ogilvie have spent months developing The Maltings, but no flats have been sold with concerns in the housing sector appearing to take hold.
Contractors working on the building have been instructed to only make the block wind and watertight and finish a show flat before quitting the site.
It was initially expected the development would be extremely popular because of its position alongside the second hole of Burnside golf course and its proximity to the world famous championship golf course at Carnoustie.
However, it seems optimism over the development may have been misplaced with the flats remaining unsold and the future of the building is now uncertain.
A project insider said Ogilvie had struggled to generate any sales at the development and, at least in the meantime, the building was now to be left unfinished.
The Evening Telegraph contacted Ogilvie Homes to discuss The Maltings project with the firm’s sales and marketing manager Sharon McPhee.
She insisted it was not unusual for just a show home to be completed in such a prestigious development.
But she did confirm they would only be completing the show home in the meantime.
“We are going forward with launching the show flat and it should be ready early October,” she said.
“We are hopeful that when it is launched there will be far more interest in the development.
“We traditionally don’t finish off the interior of flats in developments such as this because it gives buyers the opportunity to make a few changes for themselves.” |
