By Jenna Cairney

SEVEN MEMBERS of staff have been made redundant by Duncarse Developments, the firm working on Dundee’s £40 million Riverside housing development.

Duncarse insists the development will still go ahead and says the company is just re-arranging finance.

However, fears have been mounting recently regarding the future of the project in the financial climate.

Twenty-five buyers have put down £6000 deposits on properties in the development.

Some of them expressed concern after the company’s office at Whitehall House in Yeaman’s Shore closed last Friday and buyers were unable to contact anyone at the company.

Mark Wilson, managing director of Duncarse Developments, released a statement last night confirming staff in that office had been made redundant.

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

The site at Riverside has been locked up this week with no workers on site.

A sign on the fence said the sales pod would be opening ‘October 2008’ but yesterday it remained unfinished within the site.

Mr Wilson said, “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.

“Twenty-five buyers have reserved a property and continue to have a legal agreement in place for Duncarse to deliver an apartment to them.

“Duncarse wrote to all of the buyers last week to keep them fully informed of the position and we will continue to advise them on the revised timescales.”

Duncarse bought the Riverside site, formerly occupied by a Homebase DIY store, for £10 million from David Hagan.

Planning consent for 202 apartments was granted by Dundee councillors in December 2005, but the application was criticised by Dundee Civic Trust and West End Community Council.

The development will create one, two and three-bedroom apartments within five blocks for more than £300,000 each, arranged over eight levels, including penthouses.

Councillor Jim Barrie said last night he had mixed feelings about the announcement.

He said, “I’m happy for those who have been reassured that their money is safe, but if this downturn continues I don’t know if anyone would be willing to put pen to paper for others.

“In human terms this is the worst time for people to be losing their jobs and in that line of business it’s not going to be easy for people to find another job. I have a lot of sympathy for those people.”