Funding has been secured for the multi-million-pound Ury Estate development and its Jack Nicklaus signature golf course, with work now well underway ahead of a planned phased opening next year.
Legendary golfer Mr Nicklaus has now finalised his design for the golf course, following a working visit to the Stonehaven estate last summer.
A lender has been secured and funding approved for the course, housing developments, bridge and roads infrastructure, while discussions are progressing with a national brand to operate the supermarket.
Work on the infrastructure is expected to progress on the retail site, just off the A957 Slug Road, this August, with an opening date planned for 2026.
The £20million funding agreement, which was supported by Bircroft Private, cements Ury Estate as one of the most eagerly anticipated masterplanned developments in Scotland, with an expected value (GDV) of around £50million when completed.
There has already been considerable early interest in both Nicklaus Village, a collection of 59 luxury homes overlooking the golf course, and Glen Ury View, which will offer 168 family houses and bungalows, ahead of their official launch next year.
Work is continuing on the link road and bridge, which are due to be completed in 2026, as well as the highly anticipated golf course.
Several of the golf holes are expected to open for play next year, with the full course expected to open in 2027. Mr Nicklaus said he was “enormously pleased” with the design of the course.
“It always takes a while to create a great golf course, but I believe the Ury Estate’s course will be worth the wait and also worthy of Scotland and its global reputation for exceptional golf,” he said. “I am enormously pleased with the design of the course and believe it will be enjoyed by golfers for many generations.”
Jonathon Milne from Ury Estate said a recent visit to Mr Nicklaus in the USA had helped the team to appreciate the quality of design that he expects from his own courses.
“We were honoured to have Mr Nicklaus visit us with some of his family to finalise his design thoughts and give us the direction to deliver this amazing project,” said Mr Milne. “Some of our high-end homes will be branded as Nicklaus Village, making Ury the first real estate development of its kind in Europe to feature this golfing great’s name and association.
“It really is a mark of the quality of the development we plan to deliver for Stonehaven and we’re grateful to have had the support of the local community, community council and Aberdeenshire Council to date, alongside the constant support of Mr Nicklaus.”
Mr Milne said finding the right partner to finance the project was important for its continued success.
“We are pleased to confirm that terms have been agreed for the delivery of Nicklaus Village, Glen Ury View, the golf course construction and the key link infrastructure and bridge across the estate to connect the master plan vision. We would like to thank Bircroft for their assistance in progressing our funding with our lender.”
Kerr Potter, director at Bircroft Private, said: “We are delighted to have secured funding for the Ury team and help them deliver their vision at Ury Estate. We have worked closely with the lender and its advisors to secure terms to allow Ury Estate to build and deliver golf, infrastructure and housing and we look forward to working with them in the future.”
The supermarket is a key part of the development and will provide a much-needed retail outlet for residents of the estate as well as the wider Stonehaven area.
Ury Estate has been advised by chartered surveyors EYCO, which is leading discussions with retail operators.
Retail advisor and EYCO partner Simon Bashford, said: “We have been speaking to a number of operators and have recently entered into a more detailed conversation with one national brand.
“The confirmation that funding has been secured for all key infrastructure elements and delivery of additional residential units has acted as a catalyst to land this serious interest and enables us to move forward to agree terms.”
A significant amount of the major earthworks, drainage and shaping of the golf course are already complete.
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The link road and the bridge will provide the infrastructure to complete the retail and affordable housing development, which will be delivered in partnership with Hillcrest Housing Association, CHAP and Aberdeenshire Council.
The major elements of sheet and bored piled foundations and beams have been completed for the bridge and the rock for the access road removed.
Nicknamed the Golden Bear, Jack Nicklaus is considered to be one of the greatest golfers of all time, winning 117 professional tournaments in his career, including a record 18 major championships.
