Dundee property development and investment group, Carling & Co, has successfully completed a Â£1million deal which will see an additional 17 affordable housing options become available for tenants in the Dundee and Angus area.
The deal was privately funded by Carling & Co and successfully completed on Friday afternoon, completing the acquisition of 10 one and two bedroom properties in Dundee, as well as The Chance Inn at Inverkeilor. The move will see the former village pub converted into seven affordable residential properties. The Dundee properties should be available by early September while the development in Inverkeilor is expected to be ready for occupancy early 2016, pending final planning approval.
Carling & Co own and manage rental properties all over the country with many properties in the Dundee and Arbroath area.
Run by Graeme and Leanne Carling, a husband and wife team, the duo are committed to providing quality affordable housing for their tenants and are on course to increase their affordable housing portfolio to 1,000 properties within the next five years. This latest acquisition follows hot on the heels of a £3.1m deal to purchase 45 properties in Dundee earlier this summer, taking their property portfolio to over 200.
As well as growing their property repertoire, Graeme and Leanne are implementing a business model that will help to alleviate the affordable housing shortage in the Tayside area.
Graeme Carling, Co-Founder of Carling & Co, commented:
I am delighted that Carling & Co will be able to deliver 17 more affordable housing solutions in Dundee City and in Inverkeilor. There are many problems faced by people in Scotland looking to access affordable housing and these properties have been empty for two years, exacerbating the problems experience in this sector even further. After a programme of essential repairs, we’ll have the Dundee properties upgraded and ready for occupancy within the next few weeks. We expect to have works on the Inverkeillor properties underway as soon as possible, following the conclusion of the formalities of council planning permissions which are already being progressed.
Access to affordable housing is particularly difficult for young families, those on low incomes and first time buyers. The work of private companies like Carling & Co is invaluable in helping to improve the housing situation. We are very aware that there is an affordable housing shortage in many areas of Scotland and we are doing our bit to help improve the situation by providing affordable housing solutions in the Dundee area.
To find out more about our housing options click here