ISG wins Old Course flats contract

CONSTRUCTION firm ISG has won a contract to convert Hamilton Hall - the iconic former university student residence in St Andrews that serves as the backdrop to the Old Course's 18th hole - into luxury flats.

Aim-listed ISG has taken on some of the senior management team from Rok's former Scottish business and opened an office in Glasgow, creating 43 jobs.

Rok was one of the highest-profile construction sector casualties of the recession when it fell into administration last year.

In October, Fife Council backed a 35 million plan from American billionaire Herb Kohler to convert Hamilton Hall - which opened in 1895 as the Grand Hotel and featured in the classic film Chariots of Fire - into posh accommodation.

St Andrews University sold the building to US property tycoon David Wasserman in 2004 for a reported 22m. But the hall fell into disrepair after his plan to turn it into luxury timeshare apartments failed.

Plumbing magnate Kohler bought the property for 11.5m in 2009. His firm, Old Course Ltd, already owns the nearby Old Course Hotel and Dukes Course.