The Manchester and London-based developer is exploring options to deliver a residential-led scheme on the land, which falls under the Clackmannanshire Local Development Plan.

Home to the former Solsgirth colliery, the site is nestled in the Clackmannanshire countryside with panoramic views of the Ochil Hills and nearby woodland.

Gregor King, asset manager at MCR Property Group, said: “The attractive county town of Dollar is a popular residential area thanks to its high performing independent school, Dollar Academy, tranquil setting and enviable commuter links.

“At a time when the Scottish housing market is proving extremely buoyant, with house prices growing quicker than the UK average, we’re delighted to have acquired this significant site. We’re working closely with local planners on a strong vision for the site to create new homes that fully integrate with their stunning surroundings.”

MCR Property Group is delivering phase two of its £30 million mixed-use Edinburgh development, Embankment West, which comprises 123 high specification apartments. The units are being sold via the company’s sales arm, Regency Residential.