OP
I got an unconditional offer in 2008 for Aberdeen but when my finances fell apart I had to withdraw. I just couldnt find a way to fund my course (graduate here!)
I reapplied for 2010 entry, only to Glasgow Uni, as that was the only place I could afford to go. I got rejected when they increased their UKCAT cut off.
I reapplied in 2011, thinking that although I money was tough, I couldn't put all my eggs in one basket, so applied to Aberdeen, Glasgow, Manchester and St Andrews. I got 3 rejections and 1 offer. For Aberdeen, I never even got an interview.. My academics and UKCAT were the same as 2008, and I now had 2 years experience working as a staff nurse! So on paper I improved, but suddenly I never even got an interview!!
St Andrews was never a place I had considered before, and I have had to make a lot of changes and difficult decisions but I accepted my place and now am 4 weeks away from finishing 1st year. And I can honestly say it was the best thing I did!
So yes, you could turn down this place, and reapply next year. But you really are running the risk of being left with nothing, or a long wait to actually get back in again.. If I had gone in 2008, I would be finishing 4th year and almost there..