A Dundee developer is back in the property game just months after the failure of an ambitious waterside flats project left buyers thousands of pounds out of pocket.
Mark Wilson agreed a deal with Angus Council last year to pay £500,000 for the former Seaview Primary School nursery building on Hill Street in Monifieth if his plans to develop it into housing are approved by councillors.
However, the deal comes less than two years after his former company Duncarse Development Ltd went into administration.
Would-be homeowners were knocked off the property ladder with nothing to show for their money while all the firm’s staff were made redundant.
The company had prepared to start work on a £40 million project to build 202 luxury flats on the former Homebase site in Riverside Drive, Dundee.
City councillors approved the plans despite objections from Dundee Civic Trust and the west end community council, who believed the project would ruin the area.
Founded in 2000, Duncarse had bought the Riverside site for £10 million in 2007 but folded just 12 months later before a brick was laid.
By that time, 25 customers had paid deposits of £6000 each for properties in the development but as they were unsecured creditors they did not see a penny of their money back.
Mr Wilson has returned to property development and plans to restore the former Hill Street school to a home and build four detached properties.
The land and property had been on sale for offers over £500,000. Mr Wilson’s bid was the highest by £25,000.
Mr Wilson’s new company MLTW Ltd submitted a planning application for the property to Angus Council last month.Same addressThe company, which did not file any accounts last year, is registered with Companies House to the same address as Duncarse Developments 33 Yeaman Shore. Their records also show that he also traded under other names such as Castlelaw and Silver Oak Ltd.
However, the application gives the business address of MLTW in Knapp, outside Longforgan.
Mr Wilson proposes to restore the listed building into a single home with garage, car parking and garden.
Additionally, he will build four entirely new homes on the site.
It is understood that following the collapse of Duncarse Developments, Mr Wilson returned to work as an architect.
He could not be contacted at his home outside Longforgan, although a Porsche four-wheel drive was parked outside the property.
The former Seaview Primary School was built by James Fairweather Low of the Monifieth Foundry in 1860.
Now a listed-building, it was designed by Dundee architect James McLaren.
The Low family gifted the building and surrounding land to what was then Angus Country Council for use as a school.
Last year the land on Riverside was bought by developer Hassan Al Saffar of H&H Properties.
Mr Al Saffar has vowed that anyone who has paid a deposit will still be entitled to continue with their purchase if they desire.