HMH report the sale of North Downs Golf Club, Woldingham, Surrey to Deepdale Properties Limited. The sale completed on 31st October 2018.
Established in 1899 and redesigned by JJ ‘Frank’ Pennick in 1970, North Downs Golf Club has operated as a true private members’ golf club since opening 119 years ago. Recent financial pressures and lack of investment over time encouraged the Club’s forward thinking Board to offer the Club for sale, with four key objectives in mind:
(1) To preserve the future of the Club and the playing of golf at the property.
(2) To secure investment in the facilities to ensure that the business remains viable.
(2) To attract a purchaser with proven entrepreneurial experience
(4) To achieve a seamless transfer of the business from a private members’ club to proprietary ownership.
HMH offered the Club for sale on the open market and generated strong interest from a wide range of purchasers including existing golf operators, land speculators and entrepreneurs who saw the opportunity to commercialise the operation. Deepdale Properties was selected as the preferred purchaser as the offer achieved all of the Club’s objectives and promises to bring a new dynamism to the Club.
Keith Robinson FD of North Downs Golf Club Ltd said ‘We were very pleasantly surprised by the level of interest that we received in our Club, and are delighted that the future of North Downs Golf Club has been secured for the benefit of the members, visitors and the local community’.
Larry Lipman of Deepdale Properties commented ‘We are delighted with our purchase of this prestigious course, and have big plans for the future. Our aim is to build a portfolio of clubs in the coming years and to bring our own unique style to the golf sector’.
Ben Allen of selling agents HMH said, “Few private members golf clubs come to market, but we have always believed that the market would express strong interest in converting private clubs to proprietary ownership. The sale of North Downs Golf Club, and delivering all of the Club’s objectives, proves this. We are already repeating the process for clients at Hazlemere Golf Club in Buckinghamshire, which is now under offer following a short marketing process.”
For further information on the sale of North Downs Golf Club, or to discuss how HMH can offer assistance to other private members’ golf clubs, please contact Tom Marriott or Ben Allen at HMH:
tom@hmhgolf.com ben@hmhgolf.com
07900 67 20 45 07887 80 44 30
North Downs Golf Club https://www.northdownsgolfclub.co.uk