Multi-million pound property portfolio for sale
Property professionals Savills is bringing to the open market a rarely seen Arran development portfolio that covers more than 30.27 acres with a capacity for more than 110 houses.
The properties, from an unnamed seller and at an unnamed price, spans 10 locations, with some of them already having planning permission and the others all offering ‘excellent development potential’.
And while the selling agent would not be pressed to provide a rough estimate of the expected price of the portfolio, it is believed to be well in excess of a million pounds.
In a glossy 28-page brochure which divides the portfolio into the villages of Lamlash, Brodick, Blackwaterfoot and Kildonan, the individual sites are listed as: Margnaheglish, Whitehouse, Lookout, Brae Farm, Springbank, Knowe Road, Glencoy Road, Cairnhouse, Heathfield and Drimlabarra.
The brochure, which can be downloaded from the Savills’ website, provides the following information: ‘The land on offer varies from single plot sites to larger development schemes with potential for 20-30 plots, all of which are situated in well-established and accessible locations and benefit from outstanding scenic views across Arran’s renowned landscape. The majority of sites have current/historic planning consent or lie within the ‘general urban area’. Arran is experiencing significant demand for residential properties and plots. Our clients’ preference is to sell the portfolio as a whole, however, the sale of multiple lots may be considered.’
According to the Savills’ development team, the residential property market on Arran is thriving, with average house prices reaching £282,620 as of July 2021, an increase of 9.30 per cent in the last 12 months.
The demand for housing on Arran far outstrips supply which allows for properties on the island to fetch prices reaching far above the national average of £161,401.
The portfolio brochure continues: ‘There has been a surge in new enquiries for housing and land on the island during the global lockdown period as purchasers reassess their life priorities, seeking spacious homes in rural settings that enable them to enjoy an abundance of outdoor space in scenic surroundings, allowing for a more relaxed pace of life.
‘This has put further pressure on the supply of housing, particularly for local residents and workers. The provision of attainable housing and rental properties is therefore key to maintaining the working population of the island.
‘This portfolio provides an excellent opportunity to meet the needs and demands of the residents of Arran and would assist in supporting the local economy through the provision of significant employment opportunities.’
Savills agent, Emma Biggin, one of the two agents dealing with the sale, said: ‘Rural and coastal locations across the UK have experienced an exceptional surge in demand since the pandemic began: Arran is no exception and we are currently witnessing significant interest in the market for residential properties and plots.
‘A closing date is likely to be set, so interested parties are advised to register their interest early.’