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Deveron Court is located in the town of Turriff. There are 12 flats in the scheme (including the former warden accommodation) split across 2 levels. It is one of two Sheltered Housing schemes currently operating in Turriff.
Average occupancy at the scheme was 95.9% over 10 years, although there have been challenges in letting some vacancies recently. This may reflect the fact that demand is split between two schemes in Turriff.
Deveron Court has a negative Net Present Value of around -£2.2 million. This is mainly driven by the cost of future investment required at the scheme, which will require substantial subsidy from other tenants.
Turriff offers a range of facilities for tenants, including a GP surgery, pharmacy and range of shops. There is also a variety of leisure activities available. The scheme itself is located on a slope, which may be limiting for tenants with mobility issues.
The main driver for considering the scheme for closure is the high cost of maintaining the scheme in future, which will need to be subsidised by other tenants.
Deveron Court is located in the town of Turriff. There are 12 flats in the scheme (including the former warden accommodation) split across 2 levels. It is one of two Sheltered Housing schemes currently operating in Turriff.
Average occupancy at the scheme was 95.9% over 10 years, although there have been challenges in letting some vacancies recently. This may reflect the fact that demand is split between two schemes in Turriff.
Deveron Court has a negative Net Present Value of around -£2.2 million. This is mainly driven by the cost of future investment required at the scheme, which will require substantial subsidy from other tenants.
Turriff offers a range of facilities for tenants, including a GP surgery, pharmacy and range of shops. There is also a variety of leisure activities available. The scheme itself is located on a slope, which may be limiting for tenants with mobility issues.
The main driver for considering the scheme for closure is the high cost of maintaining the scheme in future, which will need to be subsidised by other tenants.
Share What type of future investment is being considered to cost over £2m? That would be over £170,000 per flat! on FacebookShare What type of future investment is being considered to cost over £2m? That would be over £170,000 per flat! on TwitterShare What type of future investment is being considered to cost over £2m? That would be over £170,000 per flat! on LinkedinEmail What type of future investment is being considered to cost over £2m? That would be over £170,000 per flat! link
What type of future investment is being considered to cost over £2m? That would be over £170,000 per flat!
IT2TRF
asked
24 days ago
There is a significant investment required with the main schemes, in relation to sprinkler systems, upgrading lifts, emergency lighting, in addition to windows, door entry systems, warden call systems. Average predicted capital per property is approx £200k per unit at Deveron Court (over 30 years, and before inflation).
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