Villagers on remote Hebridean isle of Jura accuse wealthy Australian hedge fund manager nicknamed the 'Wizard of Oz' of endangering their water supply by building 40-bed hostel for workers to service his 12,000-acre estate
- Greg Coffey, 51, bought the Ardfin Estate on the isle of Jura in the Inner Hebrides in 2010 for £1.2million
- He has been given permission to build the 'essential' staff accommodation in the village of Craigshouse
- But residents say their water supply, sewage and health services are already 'stretched beyond capacity'
- The island recorded a population of 196 in 2011 which will be increased by a fifth when the blocks are finished
Villagers on a remote Hebridean isle of Jura have accused a wealthy Australian hedge fund manager nicknamed the 'Wizard of Oz' of endangering their water supply by building a 40-bed hostel for the staff who work on his 12,000-acre estate.
Greg Coffey has been given permission to build the 'essential' accommodation four miles away from his hotel and golf course on the isle of Jura in the Inner Hebrides off the coast of Scotland.
The financier, 51, bought the Ardfin Estate for £1.2million in 2010 and has spent around £50million transforming Jura House into a five-star, 17-bedroom hotel.
The new accommodation block in Craigshouse, the island's main settlement, is due to be completed in April 2023.
Coffey announced his retirement in 2012 to spend more time with his family, but has a portfolio of luxury properties dotted all over the world (pictured with his wife Ania Coffey in 2016)
The financier, 51, bought the Ardfin Estate (pictured) for £1.2million in 2010 and has spent around £50million transforming Jura House into a five-star, 17-bedroom hotel
The new accommodation block in Craigshouse, the island's main settlement, is due to be completed in April 2023
Mr Coffey has also built a £20million, 18-hole golf course on the Ardfin Estate since his purchase (pictured in 2017)
The Jura Hotel and Isle of Jura distillery, where its 'distinctive and world-renowned' single-malt whiskey is made a short distance away
The hotel contains two bars, a restaurant, lounge and a five-bedroom house for its owners and staff accommodation
The island, which is 29 miles long and seven miles wide in some places, recorded only 196 inhabitants in the 2011 census, meaning the new development will increase its total population by a fifth.
Residents said their ferry services, water, sewage, and health resources are already 'stretched beyond capacity' and have objected to the plans submitted to Argyll and Bute council.
They added that the ferry frequently breaks down and the island has a 'fragile' water supply and single-track roads that are in poor condition.
An aerial view of the hotel, which boasts 'a superb prominent position with open views over Small Isles Bay' from its coastal position
Mr Coffey's purchase of Ardfin Estate attracted controversy from the start, due to his decision to close its public gardens, which had attracted 2,500 visitors a year as a significant source of income for the island. Pictured: Hotel bedroom
The Jura Hotel (left) pictured alongside the adjacent distillery where its famed whiskey, popular with former Prime Minister David Cameron, is produced
The island, which is 29 miles long and seven miles wide in some places, recorded only 196 inhabitants in the 2011 census, meaning the new development will increase its total population by a fifth
Australian hedge fund manager Greg Coffey, who is nicknamed 'the Wizard of Oz', has been accused of endangering limited resources on a remote Scottish Island
Jura Island is famed for its white sands and single-malt whiskey produced in the island's distillery and favoured by former Prime Minister David Cameron
The island is home to where author George Orwell (pictured) lived when he wrote his famed novel 1984. above, he is pictured in 1943
One islander told The Telegraph: 'Our broadband is poor, we have limited mains water supply, and other council services are over stretched.
'Our out-of-hours medical service is precarious and policing on the island is occasional at best.'
But architects from GCA Design, acting on behalf of the estate, said staff had been living in temporary 'pods' which were not a long-term accommodation solution.
They said building the new hostel in Craigshouse was the only viable option so the staff could have space from their workplace.
Mr Coffey has also built a £20million, 18-hole golf course on the estate since his purchase.
His purchase of Ardfin Estate attracted controversy from the start, due to his decision to close its public gardens, which had attracted 2,500 visitors a year as a significant source of income for the island.
Mr Coffey was nicknamed 'The Wizard of Oz' after making a reputed £430million as a young City trader.
At the height of his career, he would have his trading terminals flown to his hotel wherever he was on holiday, then re-assembled to allow him to trade through the night while his wife and children slept.
The Australian first rose to fame when he walked away from a $250million (£156million) golden handcuffs deal in 2008 before building up a cult following in the financial markets because of the extraordinary success of the £3.5billion 'emerging market' funds he ran.
He announced his retirement in 2012 to spend more time with his family, but has a portfolio of luxury properties dotted all over the world.
Jura Island is famed for its white sands and single-malt whiskey produced in the island's distillery and favoured by former Prime Minister David Cameron.
It was singled-out by George Orwell as a remote retreat to write Nineteen Eighty-Four - after doctors hoped the fresh air would help him recover from bouts of tuberculosis.
MailOnline has contacted Ardfin Estate and GCA Design for comment.
Most watched News videos
- Pro-Palestine flags at University of Michigan graduation ceremony
- Man spits towards pro-Israel counter-protesters in front of police
- Moment pro-Palestine activists stage Gaza protest outside Auschwitz
- Zelensky calls on Ukrainians on Orthodox Easter to unite in prayer
- Police arrest man in Preston on suspicion of aiding boat crossings
- Benjamin Netanyahu rejects ceasefire that would 'leave Hamas in power'
- Tears for Daniel Anjorin: Mourners gather at vigil for 14-year-old
- Deliveroo customer calls for jail after rider bit off his thumb
- NJ dad seen in hospital carrying limp body of six-year-old son
- Huge street brawl explodes in the street between groups of men
- The story of Anita Pallenberg in never-seen-before home movies
- Rescue team smash through roof to save baby in flooded Brazil
I kinda have to agree with them. What gives him a ...
by Swamp 110