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GOLDEN EAGLES; REVEALED TYCOONS SNAP UP PLOTS IN SCOTLAND'S RICHEST STREET.

Byline: CHARLES LAVERY

Crescent in the capital, it is the best address in Scotland.

"Depending on what they build, it could become the number one address."

Plot owner and construction boss George Russell said: "It's been a move away from our usual purchase but, with the market the way it is, we thought it would be a good plot to buy to give our workers a job to tackle through these difficult times and protect their positions.

"It will be a seven-bed home with snooker room and morning room. It should be finished by the end of the year.

"I have no idea what it will fetch - we haven't had it valued yet."

Jimmy Carter, 44, former Liverpool and Arsenal footballer turned property developer, is another buyer. Controversial landowner David Edwards, 60, bought his plot in 2007 - three years after illegally demolishing a listed building.

He knocked down 160-year-old Luscar House, near Dunfermline, Fife, after pocketing pounds 100,000 from insurers when the building was damaged by fire.

Marketing guru Scott Menneer, 42, has bought a plot as an investment. While at Tennent's, he came up with the concept of T In The Park to link their product with a younger audience. He then moved to Sky TV.

Malcolm, who has made millions from sunbed parlours and private hire taxi firms, snapped up his plot in 2007.

He bought Glasgow Private Hire - previously known as Mac Cabs - from the wife of the late millionaire gangster Tam "The Licensee" McGraw.

IT looks like a building site now - but it will soon be the most exclusive street in Scotland.

The millionaire residents of Queen's Crescent will live in the shadow of the five-star Gleneagles Hotel, just yards from the fairways of one of the world's most famous golf courses.

We can reveal every plot on Scotland's richest housing estate has been sold - at a total cost of pounds 14.9million.

When building work has been finished, the value of the stunning new homes will soar above pounds 100million.

One of the first to start building was taxi and tanning tycoon Stevie Malcolm.

Work on his astonishing pad - which has a threestorey fish tank - is already well under way.

His rich neighbours include financiers, oil tycoons and a former Liverpool and Arsenal footballer.

The new owners have largely been unaffected by the global recession but one firm that bought a site, Carlyco, is now in receivership.

The plots, ranging between half an acre and three-quarters of an acre, overlook the world-renowned Queen's Course.

Buyers receive two years' free golf membership for two at Diageo-owned Gleneagles, which would normally cost pounds 7800.

They also get a free two-year membership for four people to the hotel's health spa, worth pounds 4000.

Gleneagles sold the land to help generate the pounds 18million investment needed ahead of the course hosting the 2014 Ryder Cup.

Savills estate agent Jamie McNab said: "These homes will be at the very top end of the Scottish market.

"They are already the most expensive plots in the country and, after Caledonian WHO'S WHO QUEEN'S Crescent will have some of the most stunning homes in Scotland. Here is a who's who of the millionaires' row.

1 George Russell, 59, of Russell Construction, got his plot for pounds 1million in October 2007.

2 Derek Carlyle, 45, and his Carlyco firm, now in administration, bought the site for pounds 995,000 in August 2007.

3 Former footballer Jimmy Carter, 44, paid pounds 1.1million in April 2008.

4 Northern Irish financier and accountant Colin Johnston, 43, bought in July 2007 for pounds 900,000.

5 Singapore-based financier Richard Bullen bought the plot for pounds 925,000 earlier this month.

6 Landowner David Edwards, 60, paid pounds 1.25million in October 2007.

7 Taxi tycoon Stevie Malcolm, 45, bought in July 2007 for pounds 1.325million.

8 The second site bought by Colin Johnston, this one for pounds 1.11million, in August 2007.

9 Malcolm Howat, 62, who leads Howco Industries, bought the plot in July 2007.

10Businessman Scott Menneer, 42, paid pounds 1.15million for the site through his Menneer (Scotland) Ltd company in December 2007.

11Former rugby star and design engineer Ross McVicar, 36, got his plot for pounds 850,000 in August 2007.

12Venture capitalist Stuart McAlpine, 42, bought his land in October 2007 for pounds 1.2million.

13Property specialist Paul James Kelly, 54, paid pounds 1million in December 2007.

14Strathclyde Homes boss John Joseph O'Neill, 52, paid pounds 1.05million in September 2007.

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Luxury: Millionaires are building homes on land once owned by the famous golf hotel
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Publication:Sunday Mail (Glasgow, Scotland)
Geographic Code:4EUUK
Date:Sep 13, 2009
Words:767
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