The club is owned by Hotel Ogstons and has long been considered a staple of St Andrews’ culture.
The club’s final night will be tomorrow, Saturday 8 October.
Throughout its seven years of operation, The Lizard has employed 280 students and served thousands more.
A spokesperson for The Lizard told The Saint, “We have 35-year-old people come into the hotel and talk about DJ Iain and The Liz. We recognise that it’s an institution.”
He added, “Prince William danced here. The Manchester City Football Club came to The Lizard for several years. Kevin Bridges, too – people would take loads of photos with him whenever he came by for a visit.”
The change is a result of Ogstons’ upcoming refurbishment. The boutique hotel will be under construction for the remainder of this year.
“We’re moving from being a hotel with a nightclub to being a luxury hotel,” said the spokesperson. “We need to focus on providing the best possible service to our guests.”
The Lizard will be replaced by a spa.
Students have expressed their dismay at the announcement. Melanie Gray, said, “The Lizard has a special place in my heart. Where else can you listen to ‘One Love’ by Blue while grooving on a light-up dancefloor? It was my own private music video, and now it’s over.”