Ryden Completes Duncarse Site Sales

Ryden, on the instructions of The Joint Administrators of Duncarse Ltd, has announced the sale of two further property assets of the Dundee based residential developer who went into administration in late 2008.

The two assets are a 4.5 acre site with permission for residential development at West Green Park, Liff and the Tay Rope Works property, extending approximately 0.623 acres, at Magdalen Yard Road in Dundee's west end. Both sites have been sold to unnamed Dundee based developers.


Andy Boal, of selling agents Ryden, reports: "Both properties generated a significant level of interest and several parties offered at the closing dates. The completion of these sales is encouraging news, indicative of increasing confidence in the Dundee development market following a very difficult 2009."

Duncarse Developments was established in 2000 and was involved in creating bespoke residential property developments in and around Dundee. The company entered into administration in November 2008. Ryden disposed of four other Duncarse sites during 2009, including the 2.7 acre former Homebase store site at Riverside Drive, close to the city centre, which has planning permission for a development of 202 flats.

(GK/BMcC)