US GOLFER Phil Mickelson has become a founder member of an exclusive club to be established in St Andrews.

The Masters champion, second only to Tiger Woods in the world rankings, has bought a share in the St Andrews Grand, which is being developed by American firm Wasserman Real Estate Capital.

The multi-million pound venture will see the former Grand Hotel at the Scores—more recently used as a university hall of residence—transformed into 23 luxury holiday apartments.

Only 115 “members” will be accepted to the club, for which timeshares are being marketed at between £750,000 and £1.9 million.

Before work even begins on site to renovate the famous Victorian red sandstone building which overlooks the first tee and 18th green of the Old Course, several people have signed up, the most noted being Mickelson.

Announcing his membership, he said, “My family and I have a long history of coming to St Andrews.

“We love Scotland and the St Andrews community and I love playing the Old Course.

“Joining the club lets us wake up each day to unspoiled beaches and some of the world’s best golf courses.”

Development of St Andrews Grand was given the go-ahead by Fife Council last June, despite concerns about potential traffic problems in the area and the Royal and Ancient Golf Club questioning the scheme’s viability.

Work on site, scheduled for this summer, has yet to begin but a spokesman for Wasserman Real Estate Capital, which also has a share in Kingsbarns golf course, said it would start “very shortly.”

The distinctive building’s grand staircase with stained glass windows is to be removed and restored to form a centrepiece in the new club’s hallway.

In addition, an original corner entrance, which is no longer present, is to be reinstated according to the old drawings.