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Who really is Stewart Milne? Aberdeen tycoon in spotlight as business empire crumbles

We asked some of the people who know him well, including one who said he was 'broken' by current events.

Stewart Milne celebrates success at the Trades Awards in 2014.
Stewart Milne celebrates success at the Trades Awards in 2014. Image: Kenny Elrick/ DC Thomson

Stewart Milne’s contributions to the construction industry and north-east economy are widely recognised.

And he’s a familiar face to many of us as a former chairman of Aberdeen Football Club.

His career journey from school dropout to self-made multi-millionaire is well documented.

But what’s he really like? What kind of man is he?

And how on earth must he be feeling after watching his business empire crumble earlier this week?

‘Elusive’

“Broken” is how one of my sources put it.

I’ve spent the past few days speaking to people who were able to offer insights into the man behind the smiley and upset faces we’ve all seen in his Dons’ role over the years.

I have to confess that in nearly 21 years with The Press and Journal, as a business specialist, I have met him on very few occasions.

Despite owning Stewart Milne Group, which crashed into administration on Monday, with 217 jobs axed and many more sub-contractor roles now at risk, he’d always left the Aberdeenshire-based construction firm’s senior management team to do all the talking.

Stewart Milne.
Stewart Milne is said to be feeling broken by the collapse of his housebuilding empire. Image: Shutterstock

I’ve interviewed the company’s chief executives, managing directors, finance chiefs on many occasions.

But the true supremo always proved elusive.

And herein lies the big paradox – for a man we think we all know because of his high profile football persona, he’s incredibly private when it comes to the rest of his life.

He never craved the limelight but his chairmanship of Aberdeen FC thrust him into it.

The second character trait I’ve personally witnessed is how emotional he can be.

I was a guest of Elevator when he stepped up to collect the business support organisation’s lifetime achievement accolade in 2019.

Tears of joy and pride

He was recognised for the “grit and passion” which led him to build the largest timber frame manufacturer in the UK.

The business tycoon struggled, rather unsuccessfully, to hold back tears of joy and pride at his accomplishments.

Entrepreneurs are usually perceived as battle-hardened business types, driven by money and ambition, and adept at keeping emotion out of it.

Mr Milne seemed the exact opposite of this, most likely because of his humble roots.

Stewart Milne, left, clucthes his Elevator lifetime achievement award. With him is Knight Property Group's James Barrack, who was named entrepreneur of the year at the 2019 ceremony.
Mr Milne, left, clucthes his Elevator lifetime achievement award. With him is Knight Property Group’s James Barrack, who was named entrepreneur of the year at the 2019 ceremony. Image: Abermedia / Michal Wachucik

His office at Westhill-based SMG was once described at “modest”, full of family photos and few visual clues of his success.

He was born on July 23 1950 near Alford, Aberdeeshire, the fourth of five boys who grew up with no electricity or bathroom.

Today, he has homes in Aberdeen, Perthshire, Turkey and Florida.

His parents were from a farming background and he left Alford Secondary School at 14 with no
formal qualifications – ending up staying at the YMCA in Aberdeen.

The five Milne boys outside Tough school in 1956: l-r Hamish, Stewart, Bill, Gordon and Sandy.
The five Milne boys outside Tough school in 1956: l-r Hamish, Stewart, Bill, Gordon and Sandy.

How it all began for Stewart Milne Group

From 1965-71, he served his time as an electrician and qualified with a City and Guilds in electrical engineering, all the while day-dreaming of becoming a star winger with his beloved Dons.

Little did he know he’d one day rise to become Aberdeen FC’s chairman.

His multi-million-pound building empire began with just £200 – a gift from his father, Willie, to help him set up in business.

He and his business partner, plumber Gordon Bruce, also armed with £200, took a bank loan of another £400 to launch their new company Bruce and Milne, which carried out small plumbing and electrical contracts.

After a year Mr Milne set up as a sole trader specialising in kitchen and bathroom conversions in tenement flats.

He struck lucky and just happened to be in the right place at the right time.”

Stewart Milne Construction and the
move into housebuilding came in 1975.

Mr Milne was just 20 when BP’s executives told the media they had struck oil, but the news was the catalyst for a remarkable transformation in his fortunes.

“He struck lucky and just happened to be in the right place at the right time,” one of my sources said.

The Princess Royal unveils a plaque at the official opening of SMG's Peregrine House headquarters in 1993.
The Princess Royal unveils a plaque at the official opening of SMG’s Peregrine House headquarters in 1993.

Stewart Milne is selling his luxury Aberdeen pad for £7.5 million – he once earned that in a year

The entrepreneur, now 73, capitalised on a booming property market and fast-rising land values as the oil flowed.

But he once told a fellow journalist he wished the wealth created in and around Aberdeen during those heady days in the 1970s had been spread around more equally.

In late 2007 The Press and Journal reported Mr Milne had earned salary, benefits and dividends totalling more than £7.5 million during the last year.

This figure stuck out for me because it’s exactly what he’s currently hoping to recoup from the sale of his luxury mansion in Bieldside, Aberdeen. It’s been on the market for more than 18 months, having been put up for sale around the same time its owner announced retirement plans.

Gongs galore over the years for Stewart Milne Group’s founder

He was awarded a CBE for services to construction in 2008.

And he has received honorary doctorates from Robert Gordon, Napier and Heriot-Watt universities.

Other accolades include lifetime achievement awards from industry body Homes for Scotland and, as previously mentioned, Elevator.

Mr Milne was awarded an honorary degree by Robert Gordon University in 2016.
Mr Milne was awarded an honorary degree by Robert Gordon University in 2016. Image: Raymond Besant/ DC Thomson

He won a Scottish Business Achievement Award in 1993, the Chartered Institute of Building Open Award in 1998 and in 2005 he was named Ernst and Young Scottish Entrepreneur of the Year.

And in 2014 he came away from Aberdeen’s annual Trades Awards ceremony with a gong honouring his outstanding contribution to the construction industry.

Mr Milne has been a director of Aberdeen FC since 1994.

Many challenges

He’s had his challenges, both in business and football.

Housing market slumps during oil and gas industry troughs and the Covid pandemic hit Stewart Milne Group hard, ultimately leaving it with a lot of debt and an unviable fuure.

And life at Pittodrie was far from fun when his beloved Dons were almost relegated and he was forced to run the gauntlet of angry fans following matches.

Mr Milne was chairman of Aberdeen FC for 22 years. He’s even slipped on the club shirt for charity matches.

A concerned looking Mr Milne, in the centre of the red tie group, at the final whistle of a defeat by Kilmarnock in the Dons’ calamitous 1999-2000 season. Fans chanted for him to resign during the game at Pittodrie.

Duncan Fraser, chief executive at the football club from August 2020 to November 2019, said: “I am devastated to see the demise of SMG and the impact this will have on so many people.

“I hold Stewart in the highest regards and know he would have done everything possible to avoid this outcome.

I along with many were fortunate to work with/for him for many years.

He has absolutely no ego. I am lucky to have worked with him.”

Duncan Fraser, former CEO, Aberdeen FC

“The fact I and many others stayed either with the club in my case and SMG, and turned down other opportunities was down to the fact that he was was a loyal, supportive and driven individual we all learned from.

“Above all else he has absolutely no ego which is a quality in him I most admire.

Former Aberdeen FC CEO Duncan Fraser.
Former Aberdeen FC CEO Duncan Fraser. Image: Paul Glendell /DC Thomson

“He always challenged himself and us to embrace new thinking and I am lucky to have worked with him.”

Mr Milne has given “many hundreds, if not thousands of people” a start to their working lives, said Mr Fraser.

He also paid tribute to his former chairman’s “massive contribution” to the region over 50 years.

Mr Milne on the ball for the Dons in Andrew Considine's testimonial match against Dutch team FC Twente.
Mr Milne on the ball for the Dons in Andrew Considine’s testimonial match against Dutch team FC Twente. Image: Kenny Elrick/DC Thomson

Another source said: “Stewart is very much someone that is deliberate and thought process-driven in making decisions.

“So he does not, in my mind anyway, wear his heart on his sleeve in business dealings.

“But that’s not to say he doesn’t show compassion or emotion, because he does.

“From a personal perspective, he is someone who is down-to-earth and cared deeply about the people who worked for him.

“He is someone who is universally liked because he cares about people and invested significantly in their training and advancement.

“To many, including myself, he is a trusted friend who is always there for advice.”

He’s never forgotten where he’s come from and he’s invested a huge amount of money and time into the promotion and success of Aberdeen.”

The source added: “At the heart of who Stewart is, in spite of his wealth created over 50 years, deep down he is a family man who loves this region.

“He’s never forgotten where he’s come from and he’s invested a huge amount of money and time into the promotion and success of Aberdeen.

“I know he did everything he could personally to keep the whole business alive and is just gutted by what’s happened.”

Whatever obstacles are put in his way, he will find a way round them.”

Mr Milne is a “real gentleman”, a business client said, adding: “He’s also the most determined person I’ve ever come across.

“Whatever obstacles are put in his way, he will find a way round them.

“This is why the administration is so unfair as I know he will have tried everything he possibly could to avoid this.

Mr Milne with former Dons manager Derek McInnes, current chairman Dave Cormack and Pittodrie legend Sir Alex Ferguson at the opening of Cormack Park, Aberdeen FC's £12m training facility in 2019.
Mr Milne, second from the right, with, l-r, former Dons manager Derek McInnes, current chairman Dave Cormack and Pittodrie legend Sir Alex Ferguson at the opening of Cormack Park, Aberdeen FC’s £12m training facility in 2019. Image: Kenny Elrick/ DC Thomson

“SMG had a lot of people who have been there for decades and that is largely due to him. They like and respect him, and are incredibly loyal to him because he always treats people well.

“An example is that all my junior staff love him because he takes time to speak to them and always thanks them for the smallest email.”

Why Stewart Milne Group went bust?

Announcing SMG’s collapse into administration, Teneo Financial Advisory said the group had – like many in the housebuilding sector – faced significant challenges over the past few years.

It highlighted economic uncertainty due to rising interest rates, increasing cost pressure and an associated reduction in consumer confidence.

Teneo said SMG’s directors had explored “multiple options”, including a sale of SMG, to secure the future of the business.

But it added: “Unfortunately, this did not result in a transaction and other options to restructure the group were, ultimately, not viable.

A total of 112 employees have been retained as SMG businesses are wound down, leaving sites throughout Scotland with half-finished homes and anxious customers.

Stewart Milne Group hard hats
Stewart Milne Group’s hard hats, like most of its workforce, are now redundant. Image: Simon Walton.

Mr Milne later told the P&J he was “devastated” by this “totally unexpected outcome” of a sale process which had generated two offers for the business.

SMG’s bank, having propped up the business for years, opposed both offers and withdrew its support.

The company’s founder said he was struggling to accept the situation, given the “profound impact it will have on employees, sub-contractors, suppliers and customers”.

Stewart Milne with his partner Joanna Robertson and their new born baby boy Jamie in 2002.
Mr Milne with his partner Joanna Robertson and their new born baby boy Jamie in 2002. Image: Raymond Besant /DC Thomson

Mr Milne and his long-time partner Joanna Robertson have two sons, Jamie and Charlie. He also has three sons from his first marriage – Gary, Michael and David – and Ms Robertson has two daughters, Charlotte and Amy.


Read more: All our stories on the collapse of Stewart Milne Group

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