A new scheme to transform a former Carnoustie restaurant into seven affordable homes is under way.
Angus Council has joined forces with DJ Laing Homes to turn a central derelict building on Queen Street into seven new affordable homes.
DJ Laing Homes purchased the property almost two decades ago. It was formerly a restaurant and function suite, with living accommodation above the commercial property.
The new partnership project, under the council’s Survive and Thrive initiative, enables 20% shared equity to be provided as an interest-free loan for up to 10 years.
Eligible buyers will only require a 5% deposit and finance based on 80% of the purchase price.
Angus Council will retain a 20% share in the property for a maximum of 10 years. Applicants will be expected to meet relevant criteria to meet the Angus Council scheme.
Council housing spokesman Donald Morrison said: “We are acutely aware of how challenging it can be to buy your first home and it is particularly important that we, as a council, do what we can.
“By developing a range of housing options we are assisting buyers who live or work in the town to achieve home ownership.
“Through our affordable housing programme we’re also working with developers to ensure many of the new homes being built in the county are available to local people through shared ownership.”
The council aims for the seven flats to be available from this summer.
The conversion will allow the authority to offer: Two one-bedroom flats at a fixed price of £85,000 with 20% of the purchase price (£17,000) loaned by Angus Council; four two-bedroom flats from £105,000 with 20% of the purchase price (£21,000) loaned, and one three-bedroom flat at a fixed price of £140,000 with £28,000 loaned.
DJ Laing has more than 100 employees, including seven apprentices, and 80% of its workforce lives in Angus.