Savills Development Team is launching an extremely rare and impressive portfolio of development plots to the market on the Isle of Arran, one of the Scotland’s most cherished locations, situated off the west coast.
The portfolio comprises a range of sites which provide a total land holding of approximately 30.27 acres / 12.24 hectares. The majority have current or historic planning consent or lie within the ‘general urban area’ which makes them a particularly attractive option.
The sites are situated across 10 locations throughout Arran and have an indicative capacity of 110 residential units, together with additional expansion land which has the potential to accommodate further units. They are located in the island’s popular enclaves of Lamlash, Brodick, Blackwaterfoot and Kildonan.
According to Savills, there is significant latent demand for housing on the island from existing residents and affordable housing operators, as well as second homeowners and investors seeking tourist accommodation to cater for the 400,000 domestic and international tourists attracted to the island annually.
The portfolio would provide a significant land bank for an investor who is interested in developing a pipeline of housing for the island, or alternatively who may be seeking to offer plots to individuals for self-build projects.
The residential property market on Arran is thriving, with average house prices reaching £282,620 as at July 2021, an increase of 9.30% in the last 12 months. This is well ahead of Scotland’s average house price which currently stands at £161,401 as demand on the island continues to outstrip supply.
Emma Biggin of Savills 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.”
For further details and images, please contact: Beth Hocking, Savills Scottish Press Office, 0131 247 3739 email@example.com