Caledonia welcomes new tenants in Arbroath
Date Posted: 13th of April 2021
Yesterday we welcomed the final phase of tenants to their new homes at Monarch's Rise in Arbroath. Part of Stewart Milne’s larger Monarch's Rise development Caledonia has 61 new affordable homes; 47 for affordable rent and 14 for low cost homeownership via the Scottish’s Government’s shared equity scheme.
The homes at the Monarch's Rise development, just off the Montrose Road to the north of the town, provides much needed modern high quality affordable housing for Arbroath and doubles Caledonia’s properties in Arbroath adding to our developments at the Herald Building, Convent Street, Barbers Croft and Stuart Street.
Work began on the homes in July 2019 and were due to be completed in March 2021 meaning they were delayed by only one month despite the months of construction shut down during early COVID lock down restrictions.
The development includes a mixture of one and two bedroom cottage flats two bedroom bungalows and two and three bedroom houses all for affordable rent.
Moving into their one bedroom cottage flat yesterday new tenants Wendy Torbet and John Cameron were overjoyed with their spacious new home. Wendy and John have had a difficult year after John’s recent open heart surgery. When getting the keys Wendy commented: “With John and my own health conditions this new home is a ray of sunshine and good news for us. It is so spacious, and lovely looking out on our own wee garden. It will make such a difference to our health to be settled and closer to family. We feel like a big weight has been lifted today.”
The development also includes 14 houses for sale as part of the Scottish shared equity scheme, which helps people onto the property ladder by paying 60-80% of the property price, with the Scottish Government maintaining 20-40% of the equity. The 2, 3 and 4 bedroom semi-detached shared equity houses proved very popular with only one 3 bedroom house remaining available to purchase for £93,000 under the shared equity scheme. Find out more about the property on our website