- Located in Stonehaven, Ury Estate is a 1,600-acre countryside resort featuring a restored castle, luxury homes, and a Jack Nicklaus Signature golf course;
- The £17m loan from OakNorth will support the development of 18 luxury homes at Jack Nicklaus Village, 71 family homes at Glen Ury View, and key infrastructure for the forthcoming retail developments;
- The site is also close to several main transports routes that link Aberdeen and Edinburgh.
Glasgow, 13 October, 2025: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £17 million loan to support the next phase of development at Ury Estate in Aberdeenshire.
The funding will deliver 18 luxury homes at Jack Nicklaus Village and a further 71 much-needed family homes at Glen Ury View, marking a major step in the transformation of the historic estate into a world-class residential and leisure destination. The loan will also enable progress on infrastructure works servicing the retail development and contribute to the ongoing construction of the Jack Nicklaus Signature golf course. The course is expected to attract both international buyers and the local community with some holes to open in 2026 and completion in 2027.
Located just north of Stonehaven, Ury Estate is a 1,600-acre countryside resort featuring a restored castle, luxury homes, and a Jack Nicklaus Signature golf course at its heart. Tucked away in the most rural of Scottish landscapes, yet only a short distance from major transport links between Aberdeen and Edinburgh, Ury offers residents the opportunity to enjoy country living at its finest, while remaining easily connected to key cities.
Jack Nicklaus, following a recent visit to Ury Estate, said: “It always takes a while to create a great golf course, but I believe the Ury Estate course will be worth the wait and also worthy of Scotland and its global reputation for exceptional golf. I am enormously pleased with the design of the course and believe it will be enjoyed by golfers for many generations.”
Jonathan Milne, Founder of FM Group, commented on the transaction: “We are very pleased to be working with OakNorth again on this remarkable project, assisting us in delivering key infrastructure and much-needed homes. We are delighted to have worked with Mr Nicklaus over many years in developing the golf course and believe we will create a very special environment for people to enjoy for generations to come. I would especially like to thank the Stonehaven community and Aberdeenshire Council for their continued support as we bring the vision for Ury Estate to life.”
Fraser McPhail, Senior Director of Debt Finance at OakNorth, added: “Ury Estate is an iconic project that embodies the spirit of Scottish heritage and ambition. Our funding will help accelerate its transformation into a premier resort and residential community, underpinned by the world-class Jack Nicklaus golf course and the Silver Boar emblem. We’re proud to play a part in this milestone development.”
The Ury Estate were advised by Kerr Potter of Bircroft Private, Scotland.
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $18bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 61,000 jobs, and over 36,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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