Cantlay court, Cruden Bay

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Cantlay Court is located in the village of Cruden Bay. It consists of 15 flats split over 2 floors in the main block, and 6 linked cottages. There is also a former warden’s accommodation attached to the scheme.

The overall average occupancy at the scheme is 84.4% over 10 years, although occupancy rates have mostly fallen over the period. There are currently 2 vacant properties at the scheme, which are difficult to let.

Cantlay Court also faces significant financial challenges, with a negative NPV of around -£3 million. The main drivers of this are the level of future investment required in the scheme, and the high levels of income lost due to vacancies. However, even if the occupancy rate at the scheme was 100%, it would still require a significant level of subsidy from other tenants.

Cruden Bay provides access to a GP surgery, a post office and a pharmacy for tenants, and has regular bus services to Aberdeen and Peterhead. The location of the scheme could prove challenging for people with mobility issues, potentially requiring the use of a car or bus to access the centre of the village.

Demand and financial challenges are both factors in considering this scheme for closure.


Cantlay Court is located in the village of Cruden Bay. It consists of 15 flats split over 2 floors in the main block, and 6 linked cottages. There is also a former warden’s accommodation attached to the scheme.

The overall average occupancy at the scheme is 84.4% over 10 years, although occupancy rates have mostly fallen over the period. There are currently 2 vacant properties at the scheme, which are difficult to let.

Cantlay Court also faces significant financial challenges, with a negative NPV of around -£3 million. The main drivers of this are the level of future investment required in the scheme, and the high levels of income lost due to vacancies. However, even if the occupancy rate at the scheme was 100%, it would still require a significant level of subsidy from other tenants.

Cruden Bay provides access to a GP surgery, a post office and a pharmacy for tenants, and has regular bus services to Aberdeen and Peterhead. The location of the scheme could prove challenging for people with mobility issues, potentially requiring the use of a car or bus to access the centre of the village.

Demand and financial challenges are both factors in considering this scheme for closure.


Questions

Question 1 - If the scheme closes will there be increased security around the scheme?

Answer 1: As landlord we would have a continued responsibility for the building maintenance and security, the maintenance would continue and if required additional security measures can be put in place.

Question 2: You say the tenants in cottages will not be affected but we will not have a laundry or communal space to use, what alternatives can you provide?

Answer 2: We will have individual discussions with tenants to discuss and explore what alternative options there are.

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Page last updated: 06 May 2025, 11:22 AM