The Citizen understands the historic building's owner Wasserman Real Estate Capital (WREC) has been in negotiations with the billionaire property developer to take over its obligation to the bank.

However, repeated calls to Lora McCluskey, golf consultant and Trump's Scottish-based press relations and marketing representative, have drawn a blank, as have e-mails to David Wasserman and his partner Mike di Carlo.

Earlier this month, Mr Trump won permission to build what he says will be the world's greatest golf course and associated high-rise timeshare flats and eight-storey hotel, overlooking the North Sea at the Menie estate in Aberdeenshire.

Scottish ministers controversially approved the plans, despite strong opposition from environmentalists and residents.

New York-based Mr Trump is also building the 92-storey Trump International Hotel and Tower in Chicago, which is due to be completed next year.

But, in circumstances echoing the multi-million pound plans for St Andrews Grand — the exclusive timeshare club planned for the red sandstone B-listed property behind the 18th green of the Old Course — sales of the flats and hotel rooms have been hit by the property slump.

Concerns over the dilapidated state of of Hamilton Hall, now open to the elements since work stopped more than a year ago, have gone as high as the Scottish Government, which has agreed to monitor the situation.

Mid Scotland and Fife MSP Ted Brocklebank said while it was a matter initially for Fife Council, it was important the government was made aware of the situation.

The council has emphasised it is trying to confirm the development's status and will take any appropriate statutory action, including enforcement if necessary.