The vicinity of the world's oldest golf course, The Old Course at St Andrews in Scotland, has seen house prices skyrocket into the millions, a trend that could be further fuelled by the 'Rory McIlroy effect'. Data reveals that properties near this historic golf course often command seven-figure sums, with flats fetching up to £7 million each.

Known affectionately as the Old Lady or the Grand Old Lady, this course, which regularly hosts The Open, is steeped in over six centuries of history. The cluster of streets surrounding the famous links course offers residents a chance to be part of this rich heritage.

In recent years, 15 properties on The Scores, a renowned street running from the edge of the Old Course to the ruins of St Andrews Castle, have been sold for seven-figure amounts. Six more houses in the nearby Gibson Place and The Links have also fetched similar prices, while other sought-after streets like Pilmour Links, Golf Place and Gillespie Terrace have recorded deals exceeding £5 million.

In June 2023, a two-bedroom apartment on Golf Place was sold for an astounding £2,010,000. However, the heart of this property boom is Hamilton Hall, a majestic 19th-century building overlooking the 18th green of the Old Course. This architectural marvel, designed by Glasgow architect James Milne Monro, once served as The Grand Hotel, hosting illustrious guests such as Edward VIII, Rudyard Kipling and Bing Crosby. US property tycoons sought to revamp the historic structure by converting it into high-end flats.

In a fascinating historical footnote, the Wassermans once signed a letter of intent for a secretive venture agreement with none other than Donald Trump. The real estate mogul had his sights set on acquiring Hamilton Hall, envisaging it as the perfect site for the Trump Organisation's first overseas hotel project.

However, the Bank of Scotland scuppered Trump's ambitions by refusing a whopping £38m mortgage and loan request, judging the gamble "too risky." Instead, in a twist of fate, Herb Kohler bagged the property for a cool £11m in 2009, just under half what the Wassermans parted with three years prior.

Kohler undertook the meticulous renovation of the weary red sandstone edifice, transforming former student quarters into an array of plush apartments. Over the last decade and a half, the Kohlers have discretely conducted their affairs, offloading several properties within the now-impressive Hamilton Grand to moneyed golf aficionados and investors alike, cementing its status as one of Scotland's most coveted exclusive addresses.

A probe by The Scotsman into the family firm's published financial records divulges that from 2018 to 2022, their property dealings amassed in excess of £34m. In the tumultuous year of 2021, marked by widespread uncertainty in the property market due to the Covid-19 pandemic, sales reached a staggering £17.7m.

Even considering the high average house price in St Andrews - just over £528,000 according to Rightmove - the Hamilton Grand accommodation has outperformed the rest of the market. Data from Registers of Scotland and solicitors' filings reveal that since December 2014, there have been at least 15 sales of apartments in the development valued at £1.3m or more. Some of the most desirable residences on the upper floors of Hamilton Grand have fetched significantly higher prices.

It was previously believed that the sale of an apartment at Hamilton Grand for £4m in 2022 had set a new Scottish property record for a flat. However, records kept by the Lands Tribunal for Scotland as part of a separate valuation dispute indicate that one penthouse property at the site sold for approximately £7m.

Another coveted two-bedroom residence sold for £3.6m three years ago, a figure that remains impressive given the average price of a flat in Scotland is around £135,000. According to one property owner at Hamilton Grand, the appeal lies not only in its location - residents enjoy access to a roof terrace with unrivalled views over the Old Course - but also in the exclusive services provided by Kohler Co.

Overseas buyers flocking to Scotland are indulging in the crème de la crème of services, including butlers, housekeepers, private chefs, and even a golf concierge. The owner of one such luxury establishment, preferring anonymity, shared insights into the high-end offerings: "We are talking about the kind of luxury service you would expect in a top-end US or Caribbean resort," adding that "Scotland didn't offer that kind of elite proposition until the Kohlers came, and it's obvious that there's a demand."

The Hamilton Grand has seen at least one property sell for over £3m, with another five fetching between £2m and £3m. Verzun, a boutique brokerage firm catering to properties valued at £4m and above, was marketing a four-bedroom penthouse at Hamilton Grand for upwards of £7.5m.

Kohler Co also offers a selection of two-bedroomed, self-catering ensuite luxury apartments. A single night's stay in a two-bedroom residence at Hamilton Grand next week is priced at £1,070. Locals speculate that property prices could soar even higher following Rory McIlroy's Master's triumph. One local remarked: ''Golf gets bigger and bigger and the money in the game and some of its fans now is huge. People pay silly money to live near here and the game has been given an even bigger boost with Rory's win. It's going to create even more interest in playing and wanting to live somewhere like this.''