Teeing Up Development: Multi-Million-Pound Facility Funds Townhouses with the ‘Best View in World Golf’

• Four high-end townhouses to be built adjacent to the 17th Green and 18th Fairway on the Old Course in St Andrews.
• A multi-million-pound development facility to support construction, with the houses commanding a starting price of £7.250 million each.
• The development loan allows the family to complete the 70-week build programme and allow purchasers to occupy the homes well in advance of the 2027 Open Championship in St Andrews.

Shawbrook has provided a family-run limited company with a multi-million-pound development facility to build 4 high-end townhouses overlooking the Swilcan Bridge, adjacent to the 17th Green and 18th Fairway on the Old Course in St Andrews.

The land and former home, owned by the family since the 1960s, has been used on many occasions as the studio for Sky Sports during The Open at St Andrews. It has since been demolished to make way for a landmark development.

The new townhouses, offering panoramic views of the 1st and 18th fairways alongside the 17th green and just a stone’s throw from the world-famous Swilcan Bridge, are being brought to market through Knight Frank with prices starting from £7.25 million. Promoted as offering the “Best View in World Golf,” the properties have already attracted strong early interest.

Given the uniqueness of the site and nuances surrounding its title, many traditional lenders were cautious about taking on the project. This led the client to approach Shawbrook, allowing us to structure a bespoke loan facility tailored to the family’s funding needs. The facility provides certainty for both the family and the main contractor, to deliver on the build programme with the townhouses ready for occupation in advance of the 2027 Open Championship in St Andrews.

Douglas Spowart, Relationship Director, Scotland at Shawbrook, commented:

“This development gave us a unique opportunity to fund a site of real historical and cultural significance - but it came with its own complexities. 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.”

Brian O’Neill, Principal Broker at Onozzi, added:

“This was a particularly complex transaction. The planning process has been an intricate journey, bringing together heritage specialists, architects, planners, and engineers. 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. Shawbrook’s team took the time to understand this and offered a solution that addressed its nuances. Their pragmatic approach was key to getting the deal over the line.”