Stellar Asset Management has expanded its portfolio of leisure properties with the acquisition of Newark Golf Club in Nottinghamshire.
The purchase, which was for an undisclosed sum, represents the first time the business has taken on a private members’ club. Immediate plans for Newark Golf Club include a number of refurbishments, which will be led by Ben Blackburn.
Stellar Asset Management already boasts a strong portfolio of hotels and golf clubs in the UK, including its New Forest venues Bramshaw Golf Club, The Bell Inn and Paultons Golf Centre, as well as Murrayshall Country House Hotel & Golf Club in Perthshire.
Jonathan Gain, Chief Executive of Stellar Asset Management, commented, “Newark Golf Club has an impressive heritage which undoubtedly enhances our portfolio of leisure properties. We hope that by elevating the clubhouse facilities and developing the potential of the golf course we can provide an exceptional experience for members and visitors alike.”
Newark Golf Club, originally founded in 1896, is situated close to both the historic town of Newark and the City of Lincoln. The club, which moved to its current location in 1934, boasts an 18-hole, par 71, 6,468-yard wooded heathland course. The club facilities and course have been continually developed and improved over time to include a large clubhouse, restaurant, pro shop and practice facilities.
“We are delighted to have completed the purchase of Newark Golf Club,” commented Ben Blackburn. “The club is well renowned across the county, and we are confident that our investment in the club, course and its facilities will elevate its status once more. We would like to thank the Board for making this purchase as seamless as possible and to the members for their support. We look forward to working with them to improve their enjoyment of the club over the coming season.”