Donald Trump and Kevin Costner could end up as next-door neighbours in one of the world’s most exclusive developments after the sale yesterday of Hamilton Hall, a former university hall of residence in St Andrews, to an American hotels and bathrooms tycoon.
Herb Kohler, the owner of the nearby Old Course Hotel, paid £11 million for the historic listed property overlooking the 18th green and said he expected to spend “two or three times that amount” to create a development of about 26 luxury apartments.
The Wisconsin-based entrepreneur, who made his fortune in bathroom fittings, was first tipped by The Times as the likely buyer of Hamilton Hall in September. He admitted that, in the wake of that speculation, he had received calls from several prospective buyers of apartments.
“I got a call from Donald Trump, a good acquaintance of mine,” Mr Kohler said. “He wanted two things: he wanted me to do him a deal on the plumbing for a development he’s doing in New York City — and he said he’d like an apartment in Hamilton Hall, for which he was one of the bidders.”
Mr Kohler is also good friends with Mr Costner, having appeared as an extra in his 2003 film Open Range. Asked whether the Hollywood actor and director might be interested in one of the St Andrews apartments, he replied: “He might well be — he loves the game of golf.”
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Hamilton Hall, a distinctive redbrick building across the road from the Royal & Ancient Golf Club (R&A), dates back to 1895. It is said to have been built by Thomas Hamilton in a fit of pique after his application for membership of the R&A was rejected because of his Jewish roots. Ever since, visitors to the home of golf have mistaken the imposing edifice for the headquarters of golf’s governing body.
In its heyday as the Grand Hotel, it catered to the likes of Edward VIII, George VI and Rudyard Kipling, but after the Second World War, when it was requisitioned by the Armed Forces, it was converted into student digs. It has been empty since it was sold by the university four years ago for £20 million. The buyer, Wasserman Real Estate Capital, won planning consent to develop 23 timeshare units and secured £84 million of funding from Bank of Scotland. But work was put on hold when the property market crashed and the derelict building was put up for sale again in June through Jones Lang LaSalle after Bank of Scotland repossessed it.
Mr Kohler, whose company, Kohler Co, also owns exclusive resorts in Wisconsin, said he would fund the scheme “from internal resources”. He will shortly put his plans to public consultation and expects to start construction on the project after the Open Championship, held at St Andrews in July. He said that he hoped to secure consent to turn part of the ground floor into a pub and grill restaurant.
Purchasers of the apartments will be offered memberships giving them access to the spa and dining facilities at the Old Course Hotel, which sits at the other end of the 18th hole, use of the Duke’s Golf Club, just outside the town, plus a week at the company’s private Riverbend club in Wisconsin. As well as this, owners would be able to let their apartments to visitors, with all reservations being handled by the Old Course Hotel.
Although the residential property market remains depressed, Mr Kohler’s enthusiasm for the project may have been increased by the resilience of the market for St Andrews properties in the £1 million-plus bracket.