- Founded in 2001, Ardent Group is an Aberdeen-based property developer, specialising in the development of commercial and residential assets across Scotland and Ireland;
- The £8.3m loan from OakNorth will support the development of 21 new luxury holiday lodges on the outskirts of St Andrews, Fife;
- Located less than two miles from St Andrews, the site occupies a prominent position on the road connecting St Andrews to Edinburgh, Fife and the central belt;
- St Andrews continues to be one of Scotland’s most popular holiday destinations, made famous as being the ‘Home of Golf’, whilst also attracting visitors for its rich history, historic University, and vibrant culture.
Glasgow, 20 January, 2026: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £8.3m loan to property developer, Ardent Group.
Founded in 2001, Ardent Group is owned and operated by the Keane family and has a long-standing track record across property development, investment and hospitality, with assets spanning residential, leisure and mixed-use schemes across Scotland and Ireland. The group also owns and operates several hospitality businesses, including hotels, self-catering accommodation, pubs and retail assets.
The £8.3m loan from OakNorth will fund the development of 21 new luxury, four-bedroom holiday lodges on a 6.27–acre site at Clashwood, located less than two miles southwest of St Andrews. The accommodation will each feature premium amenities including private hot tubs, high-quality interiors and landscaped surroundings, and will target affluent leisure travellers, including golf tourism, overseas visitors, wedding parties and families. The site occupies a prominent roadside position on one of the main arterial routes connecting St Andrews with Edinburgh and the wider central belt, offering strong accessibility, while remaining close to the town’s world-famous golf courses, beaches and historic centre.
Robin Keane, Director of Ardent Group, commented on the transaction; “St Andrews is one of the most desirable leisure destinations in the UK, with year-round demand driven by golf tourism, the university and its international appeal. We’ve spent considerable time refining the planning and specification for this scheme to ensure it delivers a genuinely premium product that reflects the quality of the location. OakNorth took the time to understand both the opportunity and our operational track record in self-catering accommodation. Their speed, flexibility and ability to support a complex development-led project made them the right funding partner for us, and we look forward to working with them as we bring this scheme to life.”
Matteas Law, Associate Director of Debt Finance at OakNorth, added: “Ardent Group has a strong track record across property development and hospitality, and this scheme benefits from an exceptional location in one of Scotland’s most resilient and high-performing leisure markets. St Andrews continues to see robust demand from both domestic and overseas visitors, supported by its global reputation, limited accommodation supply and major events such as The Open Championship. This, combined with the high-quality nature of the proposed accommodation, made this an attractive opportunity to support an experienced sponsor delivering a differentiated product in a prime market.”
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Notes to editors
Photos available upon request.
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 £5m-£100m in revenue), 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 38,000 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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About Clashwood St Andrews
Visit www.clashwoodstandrews.com for more information.