GVA reports the sale of five golf clubs across the U.K. since the start of 2015.
Park Wood Golf Club, Kent set in 165 acres and situated in the Surrey Hills near Westerham, some 20 miles from Central London, was sold in January. Opened in 1994, and in the same family ownership since its inception, the property comprises an 18 hole 6,835 yard (par 72) golf course with practice facilities and a 1,050 sq m (11,300 sq ft) clubhouse. The property was sold to Orida Corporation, who also acquired Oakland Park Golf Club, Buckinghamshire in June 2014 (where GVA also acted).
Sherdons Golf Centre, Gloucestershire set in 70 acres and situated between Cheltenham and Tewkesbury, was also sold in January to local golf professional Richard Ballard. Opened in 1992, and again in the same family ownership since its inception, the property comprises a 9 hole 2,654 yard (par 34) golf course, 26 bay floodlit golf range and 430 sq m (4,625 sq ft) clubhouse. The vendor, Richard Chatham, is to enjoy a part time roll with the business.
Waterfront Golf Club, South Yorkshire a modern 32 bay floodlit golf range, Simon Gidman designed 9 hole 3,389 yard (par 36) golf course and clubhouse, was sold in February. Situated close to Rotherham, this leasehold property was bought by local golf professional Frank Houlgate.
Weston Turville Golf Club, Buckinghamshire is situated on the outskirts of Aylesbury. Opened in 1973, the property comprises a 6,008 yard (par 69) golf course, 889 sq m (9,569 sq ft) clubhouse (with two former squash courts) and 3 bedroom bungalow. The Club was sold in March.
Taunton Vale Golf Club, Somerset comprised an 18 hole 6,238 yard (par 70) golf course, 9 hole 2,004 yard (par 32) academy course, 7 bay floodlit golf range and 693 sq m (7,460 sq ft) clubhouse. Due to the exceptional demand for agricultural land in the prized Vale of Taunton, this 63 hectare (156 acre) site was sold for agricultural use earlier this month.
The sales were all handled by Ben Allen, a Director in GVA’s Retail Hotel and Leisure team, who commented: “We have enjoyed a very good start to 2015, proving that the golf sector remains of strong interest to investors. These recent sales follow on from the increased transactional activity we experienced in 2014. Purchasers range from overseas investors, to local entrepreneurs and existing golf / leisure operators.
“Whilst the sector has undoubtedly endured some challenging operating conditions over recent years, these sales clearly demonstrate the on-going demand for golf clubs from a variety of purchasers – both domestic and foreign.”
Ben Allen BSc (Hons) MRICS at GVA: ben.allen@gva.co.uk
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