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Aberdeen-based property developer Ardent Group has secured an £8.3m loan from digital bank OakNorth to fund the development of new luxury holiday accommodation near St Andrews in Fife.
The funding will support the construction of 21 four-bedroom holiday lodges on a 6.27-acre site at Clashwood, less than two miles south-west of St Andrews.
The scheme is being developed by Ardent Group, which specialises in commercial and residential property across Scotland and Ireland.
The lodges will be aimed at the high-end leisure market and are expected to include private hot tubs, landscaped surroundings and premium interior finishes.
The development is targeting a range of visitors, including golf tourists, overseas travellers, wedding parties and families.
The site occupies a prominent position on a main route connecting St Andrews with Edinburgh, Fife and the central belt, offering access to the town’s golf courses, coastline and historic centre.
Founded in 2001, Ardent Group is owned and operated by the Keane family and has an established track record in property development, investment and hospitality.
Its portfolio includes residential, leisure and mixed-use schemes, as well as hotels, self-catering accommodation, pubs and retail assets.
According to the Ardent Group, the development adds to a growing pipeline of leisure-led property projects in and around St Andrews, where demand for high-quality visitor accommodation has remained strong.
Robin Keane, director of Ardent Group, said: “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.”
Matteas Law, associate director of debt finance at OakNorth, added: “St Andrews continues to see robust demand from both domestic and overseas visitors, supported by its global reputation and limited accommodation supply.”
