The intended project could affect the nearby council-owned leisure centre, the town's historic harbour and 35-year-old student accommodation at Albany Park.

Residents living in the area first learned of the development when letters from St Andrews University and the marine division of the Crown Estate dropped through their letter boxes this week.

Consultants have already been hired to handle the job of keeping the public informed as the first steps are taken towards bringing a new Scottish Oceans Institute (SOI) to the home of golf.

Building on the centre of excellence already established by the Gatty Marine Laboratory, near the beach, the invitation to the community exhibition states the development would bring together marine laboratory and research functions from across the country into one new St Andrews centre.

Marine biology and active research, linked to marine activities around the coast, could also include a visitor centre.

However, the new institute's future largely hangs on how it is received by the community.

Edinburgh-based consultant GVA Grimley has been commissioned to handle the consultation exercise, which kicks off with an exhibition in the main foyer at the Gatty Marine Laboratory between noon and 8.45 p.m. next Thursday.

Should the SOI go ahead, it could bring a massive jobs boost, expanding the current number of specialist research scientists and technicians in St Andrews from 120 to more than 300.

Initially, a "general urban framework" will focus on the university-owned sites to the south of Woodburn Place, including its estates buildings, the Gatty and Albany Park student housing.

An initial review of how St Andrews harbour and the council-owned East Sands Leisure Centre could be developed in the future will also be carried out.

Many of those plans were first revealed four years ago when the university's 'Estates Vision' to 2025 was published.

At that time, it was pointed out that four acres of the 104 acres owned by the university in St Andrews lay at the eastern end of the town and finance director, Derek Watson, was reported as saying the university wanted to commercialise its research activities.

Since then, some of the vision has already become reality with the completion of the university's new computer science building and new arts building.

Its new medical science building is taking shape on the North Haugh and, next week, principal Dr Brian Lang is due to reveal details of two further science buildings planned near it.