Global Edition

Ballumbie Castle Golf Course sold

6.06am 8th June 2011 - Property - This story was updated on Saturday, June 25th, 2011

Ballumbie Castle GC

BBC Business News Scotland reports that the Dundee golf course, which was placed into administration in January, has been bought by Knowe Properties, a Scottish-based property investment company which is located in Edinburgh.

The 18-hole course, which opened last year and was previously owned by Glacierlight Ltd, will continue to be managed by the leaseholders, Rebel Golf Courses.

Administrators Begbies Traynor said the purchaser acquired title to the course, along with a driving range and clubhouse, for an undisclosed sum.

Paul Dounis, of Begbies Traynor, said: “We can confirm that we have concluded the sale of the club in a relatively short period of time and we are happy that the existing employees of Rebel Golf Courses, who remain the tenants and will continue to operate the club going forward, will keep their jobs.

“The membership had grown quickly since its opening, and the business shows a great deal of promise with reduced debts and stable funding behind it.”

Ballumbie Castle Golf Course www.ballumbiegolf.com

 

 

       

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