A Perth housebuilding firm has revealed it is confident that the ‘buoyant’ local property market will support its plans to build almost 900 homes in the next six to eight years, alongside a new head office.
A&J Stephen, founded in 1935, is currently awaiting planning consent for the next 217 houses at Mansfield Park, Scone, with hopes to start construction in early 2024.
Around 60 homes are already complete and occupied at the site, with over 600 still to be built. The firm added that it recently released nine properties for sale, more than half of which were snapped up within just 24 hours.
Meanwhile, an application has been submitted to Angus Council for the first stage of a new development in Brechin, which will see 270 homes built. Subject to planning consent, construction should begin in 2024.
MD John Stephen said, “The local property market is remarkably buoyant right now. Like the rest of Scotland, demand is still outstripping supply in Perth and Perthshire. People are continuing to move despite the external factors affecting wider society, from soaring interest rates to the everyday cost of living increase, and there’s still a huge demand for high-quality new builds. We are very much looking forward to progressing with Scone and Brechin to meet some of that demand in both Perthshire and Angus.”
The company is also seeking consent to build a new head office to the rear of its existing premises on Edinburgh Road, Perth. Subject to consent, the new 2,600 square foot office, representing an investment of almost £500,000, should officially open next year.
