Cost consultant, Thomas & Adamson, has been appointed to manage the conversion of an iconic Scottish landmark into one of the most expensive timeshares in the world.
Hamilton Hall, overlooking the 18th green and first tee of The Old Course in St Andrews, is to be redeveloped by US developer Wasserman Real Estate.
The “St Andrews Grand” development will cost £23m and consist of 23 apartments, a gym, spa, library and dining area.
Wasserman purchased the building from St Andrews University last month for a figure believed to be £40m. Construction will start imminently with completion targeted for spring 2008.
Brian Donaldson, partner at Thomas & Adamson, said: “The redevelopment at St Andrews Grand is an exciting project. It is being procured in an innovative fashion to satisfy funders and clients.”
Current Masters golf champion, Phil Mickelson, has already signed up to the exclusive club. A ten-week share in the scheme costs almost £2m, with annual fees running up to £20,000.
References: EGi News 17/10/06
