Applecross wins top award despite falling victim to property crash

Published on Friday 26 June 2009 21:48

IT WAS one of the most high-profile Scottish victims of the property crash, falling into receivership with the loss of 40 jobs.

But now-collapsed luxury housebuilder Applecross has scooped a top industry award – for a housing development in Midlothian.

Graham Aggett, former chairman and co-founder of the firm, which was taken into the hands of receivers in May, collected the prize for Waterside Development of the Year at the Scottish Home Awards yesterday, along with his former chief executive, Colin Cumberland.

The company they ran was also shortlisted twice in the City Apartment of the Year category for its Edinburgh developments at Barnton Avenue West and South Oswald Road.

Applecross's winning development was for the 77-property site at Eskbridge, Midlothian – beating off competition from companies such as Laurel Homes, which had both its Carrick Quay, Ayr, and The Moorings, Irvine, shortlisted for the prize and Pines Property's The Mulberries development in Edinburgh.

Aggett, who launched Applecross 30 years ago, said: "We thought it was fitting to make an appearance at the lunch and accept the award, given that we had been shortlisted for three award categories.

"Both Colin and I are still very proud of what we have done over the years and will stand tall in front of our industry peers."

Applecross was put into receivership with PricewaterhouseCooper in May after Bank of Scotland – with which it took out a 70 million loan in 2006 – pulled the plug on financing the company.

Around 300 guests from 35 companies attended the awards ceremony, at Edinburgh's Sheraton Hotel, yesterday lunchtime.

Edinburgh housebuilders, AMA (New Town), collected the top prize of the day – the 2009 Housebuilder of the Year – while Elgin-based Springfield Properties collected the most awards, with three prizes: Apartment of the Year for its development at Nairn Road, Forres; Conversion of the Year for Rathven Parish Hall in Grampian and House of the Year for the Newton Highland houses in Alness, Ross-shire.

AMA scored highly with three developments: the Printhouse, and Caer Amon, both Edinburgh and Springside, a new development in the Fountainbridge area of the city.

Chair of the judging panel, Margo MacDonald MSP, said: "I am very impressed to see so many firms engage positively with the Scottish Home Awards. Positivity is a powerful thing and it's very important that you take the time to celebrate your achievements in good years and in bad."