The 70-week build programme for the high-end properties can now get underway after the owners secured the financing package from Shawbrook Bank, which specialises in serving customers with complex funding needs.
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“This development gave us a unique opportunity to fund a site of real historical and cultural significance – but it came with its own complexities,” said Douglas Spowart, relationship director at Shawbrook.
“Our team here at Shawbrook were able to address these head-on and deliver a practical solution which met the client’s exact funding needs. Through close collaboration with Morton Fraser, Thorntons, Graham & Sibbald, Hardies, and Onozzi, we have been able to successfully help the client on their journey in creating a landmark piece of history at this unique and very special development site.”
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Brian O’Neill, principal mortgage broker at Onozzi, agreed it was “a particularly complex transaction”.
“The planning process has been an intricate journey, bringing together heritage specialists, architects, planners, and engineers,” he explained. “The result not only complements its historic surroundings but also enhances the cultural fabric of St Andrews – a town celebrated worldwide for its heritage and golfing prestige.”
With panoramic views of the 1st and 18th fairways alongside the 17th green, the properties are being promoted as the “Best View in World Golf” and are being marketed through Knight Frank with prices stating from £7.25 million. It is said they have already attracted strong early interest.