According to Scottish Housing News, Springfield Properties has withdrawn its proposals to construct a 1,500-home village near the Cairngorms mountains. It cited "business priorities" as the reason behind the decision.
The plans would have seen the village built in the Cairngorm National Park Authority over a period of 20 to 30 years. The development had been agreed in principle, it is understood.
Johnnie Grant, owner of the Rothiemurchus Estate where the village would be built, is quoted by Housing News as saying: "An Camas Mòr LLP is already in discussion with other partners and in the meantime is taking forward this project to the next stage of the detailed planning process with the original team and the work carried out by Springfield.
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"It is hoped work will start in Spring next year on the first phase of the development which will include 40 per cent affordable housing.
"We appreciate that in the three years since Springfield became involved, the market has changed significantly and there are many new opportunities throughout Scotland. They now have a lot of other projects in the pipeline and need to concentrate elsewhere."
Sandy Adam of Springfield added: "Springfield are pleased to have worked with An Camas Mòr to take the process through Planning Permission in Principle to the imminent submission of the Masterplan. This was a difficult decision.
"Our business priorities have evolved over last three years. Very substantial additions have been made to our land bank with big strategic allocations around Dundee and Perth as well as smaller developments in many new locations.
"We wish Rothiemurchus every success and continue to work with them on a detailed handover of the project."
(JP/MH)
