Law firm Howard Kennedy has advised long-standing client The Club Company on a complex £37 million refinancing.
The Club Company owns and operates 13 country clubs across the UK that combines a traditional golf environment with state-of-the-art health and fitness facilities, together with five hotels.
Howard Kennedy advised The Club Company on the refinancing of 10 country club properties that comprise spas, golf courses and hotels, including the preparation of reports on title and addressing the many conditions and complexities in the suite of lending documents. The refinancing completed on 27 July 2017.
The team was led by Paul Springall, Real Estate Partner, supported by Senior Associates Astrid Stanley, Peter Birkett and Kim Walker, and Legal Director Susan Pearson.
Paul said: “This refinance deal was particularly complex due to multinational aspects of the outgoing lender and the unusual arrangements with land used for golf. We needed to review not only property documentation, but also other arrangements that are in place with local authorities and The Forestry Commission, together other statutory bodies.”
In May this year, Howard Kennedy advised The Club Company on its purchase of the Witney Lakes Resort, an 18-hole Lakeland-styled golf course with leisure facilities and planning permission for an 86-bedroom hotel on the edge of the Cotswolds, and in November 2016 on the acquisition of 350-acre Woodbury Park resort in Exeter.
Howard Kennedy www.howardkennedy.com