A penthouse flat in St Andrews’ former Hamilton Hall could be the most expensive ever sold in Scotland.
Owners of the iconic building overlooking the Old Course hope the four-bedroom holiday home will go for £5.1 million.
Another apartment in the Hamilton Grand, as the luxury complex is to be known, is to go on the market for £4.8 million.
They are among 26 apartments in the building, bought by American plumbing magnate Herb Kohler for £11.5 million in 2009, which are to be handled by upmarket estate agent Savills.
The record price for a flat in Scotland is believed to be £2.5 million, for Wittinghame House, East Lothian.
Savills director Jamie McNab expects substantial interest when the holiday apartments go on the market later this month, particularly from wealthy American, Asian and South African golfers.
He said, “What may sound a big price in the Scottish market place probably doesn’t sound a big price when you are speaking with people who have property all over the world.Status symbol”Golf is a huge status symbol in the US, Asia and South Africa and it’s exactly that market we are looking at. There are people who are phenomenally wealthy and there’s only one St Andrews, which we are lucky to have here in Scotland.”
Work is to begin shortly on the £35 million conversion of Hamilton Hall, built in 1895 as the Grand Hotel and latterly used as student halls by St Andrews University.
Like other apartments in the seven-storey Hamilton Grand which will start at £1.35 million for two-bedroom pads the penthouse will be served by a concierge, butler and valet.
Owners will also have a private assistant to manage every aspect of their visit and they will have unlimited use of the Old Course Hotel spa and the Duke’s Course, both also owned by Kohler. The complex will also have a private library, a garden courtyard, grill restaurant and bar.
A previous attempt to turn the famous sandstone structure into luxury timeshare apartments failed.
The building was bought from the university in 2005 for £20 million, but its owners also from the US failed to find enough takers for the properties.
Work to upgrade the old hotel was halted and its condition was left to deteriorate until it was repossessed and taken over by Kohler Co.