A home overlooking the 18th green of the Old Course at St Andrews has just been made available to 12 golf enthusiast owners.

The 12 owners will each have 4 weeks use per year of the 3,000 square foot, 5 bedroom home. This Victorian townhouse home has just undergone a complete luxury refurbishment, and includes a formal drawing room, open plan living and dining room, designer kitchen and seven bathrooms. The third floor has a balcony overlooking the 1st tee, the 18th green and the Royal & Ancient headquarters.

Owners can bring up to seven guests who will be looked after by the full-time Residence Manager. When the British Open is held at St Andrews, all members will have use of the home for entertaining, but will have to find other local accommodation.

The 1/12 equity ownership costs £775,000 ($1.6m) with annual dues of £12,000 ($24k). The address of the property is The Residence, No.9 The Links, St Andrews, Fife, with more details at The Residence website.

Golf was first played in St Andrews around 1400, making the area the birthplace of golf and its spiritual home. St Andrews Grand, which also overlooks the 18th green was also due to be converted into a private residence club, but the developers are now selling these 23 units as whole ownership.

The ultra luxury Yellowstone Club World destination club is building its own homes and own golf course at St Andrews, although we hear that they are currently reconfiguring their memberships and are not adding new members at the moment.

There are several other fractional properties around Scotland and destination club Quintes has a home at Gleneagles, another great Scottish golfing location.