A Hebridean jobs boom is on the horizon thanks to an Australian millionaire landowner's ambitious plans for a golf course on the isle of Jura.

Greg Coffey's rumoured £55 million outlay on land he owns is expected to create up to 20 permanent jobs, a massive boost for an island which is home to less than 200 people.

Work is now underway on creating an 18 hole course on the £3.5milliion Ardfin sporting estate, which former hedge fund manager Mr Coffey bought in 2010.

Extensive renovation work is also being carried out to the infrastructure and buildings on the 12,000 acre estate and plans have been lodged to extend the main Jura House.

Mr Coffey, 44, who has been nicknamed the Wizard of Oz for his financial trading skills, was previously co-chief investment officer of Moore Europe Capital Management.

He has become a frequent visitor to Jura since taking early retirement.

Alex Dunnachie, a director of Jura Development Trust, said attitudes towards Mr Coffey had changed as people witnessed the massive investment that was being made in the estate.

The estate farm had been run down to just 200 sheep by the previous owner, before Mr Coffey purchased Ardfin,

and he decided to close that side of the business and concentrate on the sporting estate side instead..

Mr Dunnachie said: "If you think back to the first two years after he bought the estate he was slagged off because people were losing jobs on the farm, but now he is going to create ten times more jobs than ever before.

"There is no doubt about it, it is going to be phenomenal, the most important thing is the jobs. They are talking about seven jobs on the golf course alone and the feedback I am getting is that they are talking about 20 jobs for the whole estate project. It could be more."

Two people are said to be already on the island, being trained to be greenkeepers.

Willie MacDonald, Ardfin Estate manager, said: "For Jura, what is happening at the moment is fantastic."