£40m Dundee flats to go ahead, despite developer redundancies

The developer of a £40m luxury apartment block in Dundee, Scotland, claims construction will start next month, despite the recent closure of an office and several redundancies.

Fears had been raised about Duncarse Development’s 202 Riverside apartments after the developer shut a city office and made seven staff redundant.

But the firm has pledged to begin construction in December after securing a revised finance package for the project.

Duncarse developments managing director Mark Wilson told the BBC: “The Riverside development will go ahead. Duncarse is currently negotiating a revised finance package and the deal is scheduled to be completed by the end of November, with construction due to begin in December.

“Properties at the development are still available, however staff at Duncarse’s Yeaman Shore office have been made redundant as further marketing will not be carried out until the revised finance package in place.”

Wilson said 25 buyers had reserved a property.