Invercairn Court, Cairnbulg

Invercairn Court is located in the adjoining fishing villages of Cairnbulg and Inverallochy, approximately 4 miles East of Fraserburgh. The scheme has 16 flats split across 2 levels, and a former warden property on site.

Average occupancy at the scheme was 88% over 10 years, and recent vacancies have proven challenging to let. Occupancy rates have seen a generally downward trend in recent years.

Invercairn Court has a negative Net Present Value of around -£2.4 million, which is mainly driven by the high cost of future investment required. Loss of income due to vacancies is also a factor in the scheme, although even if occupancy were 100% it would still require substantial subsidy from other tenants.

Invercairn Court is close to the local shop and post office, with more amenities available in Fraserburgh. There is no GP practice currently in the area, although there are plans to open a local pharmacy. Public transport is available to Peterhead and Fraserburgh, although the timetable is limited which may limit options for tenants without access to a car.

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