Work to create the Feddinch Club course designed by former Open champion Tom Weiskopf ground to a halt in 2014.

Fife Council refused planning permission for a clubhouse-hotel that was seen as crucial to funding the £25 million project and the plan did not progress under previous owner Scotia Developments.

The 240 acres of former farmland on the A915 includes a semi-derelict B-listed farmhouse and steading two miles from the centre of St Andrews.

Property consultancy Galbraith said Feddinch Mains offers the potential for major development.

George Lorimer, who is handling the sale, said: “This is an outstanding proposition, just minutes from the centre of St Andrews, the Home of Golf and one of the country’s most desirable locations.

“The original planning permission for the site included an 18-hole golf course, a clubhouse with 41 bedrooms and a shop, storage buildings, car parking and the establishment of a renewable energy source.

“Subject to planning there is potentially scope for a purchaser to continue with the development, and create a superb new course with some lovely coastal views with the benefit of a fantastic unrivalled location.

“The demand for premium and championship-standard golf courses increases year-on-year in Scotland.

“The site also has excellent potential for a variety of other commercial uses, subject to planning permission, and is only 10 minutes by car to St Andrews and the glorious Fife coast.

“The purchaser could potentially put their own stamp on the property and take advantage of its excellent location to create a premium tourism-related business.”