Edinburgh-based developer Waverley Tweed has targeted land behind St Margaret’s Farm just off James Street for the proposal.

The firm has lodged an Environmental Impact Assessment (EIA) screening request with Fife Council ahead of tabling a more detailed proposal.

The plans, if given the go-ahead, will see the existing C-listed farm building turned into three homes, while a number of buildings currently on site are set to be demolished – including a two-storey extension to the existing dwelling.

The farm buildings have fallen into disrepair over the years and are included on the country’s Buildings at Risk Register due to their “very poor” condition.

A spokesman for Muir Walker and Pride Architects, acting on behalf of Waverley Tweed, said the site had been zoned for up to 70 homes in the Fifeplan.

“It is proposed to reinvigorate the vacant site by developing a distinctive housing intervention with a strong sense of place,” the spokesman added.

“The design seeks to introduce a total of 37 dwelling houses by means of erecting new houses and converting/refurbishing existing buildings.

“The proposal envisages 27 new detached houses, two-storey and mix of three, four and five bedrooms, specifically designed for the site.”

If Fife Council planners consider no separate EIA is required, a full planning application is likely to be lodged in the new year.