£400k fund agreed for Buchan’s derelict buildings

Aberdeenshire Council's Woodhill House headquarters.
Aberdeenshire Council's Woodhill House headquarters.

Buchan is set to benefit from a new £400,000 investment fund aimed at bringing derelict and vacant properties back into use.

The Property Investment Fund was agred by the council’s Policy and Resources Committee following discussions at Infrastructure Services Committee.

The fund is part of the council’s Regeneration Strategy for Peterhead, Fraserburgh, Banff and Macduff.

Stuart Pratt, Peterhead South & Cruden councillor, said: “This scheme can help provide funding to kick-start the regeneration of buildings in need of attention to bring them back into productive use.

“Most of these will be privately-owned so this will very much be a co-operative approach where the council can perhaps provide the impetus through this scheme to start things moving.”

Grants of up to £10,000 will be awarded for feasibility studies, architectural drawings or quantity surveying work at phase 1, with further grants of up to £100,000 available in phase 2 for building/renovation work.

Councillors have agreed to run the scheme for two years as a trial to demonstrate what is achievable and what is required to entice private and community developers to invest in their town centres.

Councillor Richard Thomson, Co-Leader of Aberdeenshire Council, said: “Investing in our town centres is a priority for Aberdeenshire Council, and to achieve the best results we need to stimulate the local economy by encouraging private developers to invest in their properties.

“We hope this fund will reinvigorate these towns and kick-start a wider commitment by developers to work alongside the council to take steps which will support the local economy.”