SIC looking to buy six North Road properties for mid-market rentals

Shetland Islands Council is looking to buy six properties in Lerwick’s North Road to lease as “mid-market” rentals.

Mid-market rents are generally cheaper than private properties, but more expensive than normal council housing.

The SIC said they would “offer alternative affordable housing for those on a modest income”.

An exempt report on the project was heard at Monday’s development committee, and will go before two meetings next week.

In the report, housing manager Anita Jamieson said the rental market in Shetland was “much smaller” than the national average.

“This is seen as a major barrier to economic growth and potentially damaging to the future of the islands.”

The council expects the project will cost around £1.2 million.

If successful, Ms Jamieson said the council would need to consider if mid-market rents should be expanded to other developments, including the forthcoming Knab site.

The SIC said it would not be making any comment about the exempt report as it was to go before two committees next week.