Albany Court, Fraserburgh

Albany Court is located in Fraserburgh, with a total of 41 flats in the main complex. It also has a small number of linked cottages, 3 of which are currently being used as Sheltered Housing.

Occupancy rates and demand for Albany Court have fallen in recent years, with occupancy falling to 80.7% in 2023/24 from a high of 99.2% in 2014/15 and significant challenges in letting vacancies. We currently have four Sheltered Housing schemes in Fraserburgh, meaning that demand in the settlement is split between a relatively large number of properties.

The scheme is also challenging financially, with a Net Present Value of around -£4.4 million. This negative value is caused by a combination of lost income due to vacancies and future investment requirements. Although the scheme returns a small revenue surplus at the moment, this will not cover the cost of future works required at the scheme, meaning that other housing tenants will have to subsidise these in future.

The layout of the scheme can present challenges to tenants with mobility issues, and could restrict the ability of people to live there. Fraserburgh itself has a wide range of shops and other local amenities available to tenants, and the scheme has good bus links nearby.

The main drivers for considering the closure of this scheme are the low demand for vacant properties here, and the high costs of maintaining the scheme in future.