Forbes court, New Pitsligo

Forbes Court is located in the village of New Pitsligo, which is about 10 miles South-West of Fraserburgh. The block contains 16 flats across 3 levels, and there is a former warden accommodation attached to the block.

Average occupancy at the scheme over 10 years was 87.1%, and has tended to be at a lower level in recent years. There have been challenges in letting vacancies here in the past due to low demand, which has resulted in a loss of income.

Forbes Court has a negative Net Present Value of around -£2.6 million. The main driver of this position is the cost of future investment required at the scheme, which will require substantial subsidy from other tenants.

New Pitsligo offers a GP practice, pharmacy and a few shops for tenants. The nearest large settlement is Fraserburgh, which offers a wide range of amenities. Public transport is available to Banff and Fraserburgh but the timetable is limited, which could present challenges to tenants without access to a car. There is an A2B bus service available, but this requires pre-booking.

The main driver for considering this scheme for closure is the high cost of investment required in future, which would have to be subsidised by other tenants.