February 26 2009

Glum news is being transmitted from FM Developments Edinburgh HQ, communicating news that administrators have been called in to oversee subsidiaries at the trouble hit developer.

Failure of the business has already cast doubt on Scotland’s "other" multi-million pound celebrity golf resort, Jack Nicklaus’s £40m fairway on the Ury Estate, Stonehaven.

Joint administrator Fraser Gray has expressed a commitment to pursue all available options for the groups developments, particularly the Stonehaven course which has strong support from local stakeholders.

Plans for the estate would have seen the historic Ury House fully restored and the construction of some 238 new homes along with restaurant, spa and leisure facilities.

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