The district council bought the land and buildings at the Norwich-based venue for £7 million in 2006. It has now sold the 237-acre site back its founder, Colin Bothway, for £6.9 million.
The council has reported that the total income – sale and rent – from its 19-year ownership of the hotel and golf club was £11.68m. During this time, the council said made a further investment of £1.95m in the asset, resulting in an overall profit of £2.73m over that period.
Breckland Council leader, Sam Chapman-Allen, commented: “The figures show just what a good investment the golf club has been for this council and our residents. The steady stream of reliable income over nearly 20 years has played a big factor in helping Breckland maintain a good financial position compared to our peers and has enabled us to keep the pressure off local taxpayers as much as possible.
“The rent brought in by this and our other investments has played an important role in enabling us to go above and beyond in the services we provide. We’re now further putting the money from the capital sale to very good use by investing into temporary accommodation which will bolster this important resource and ensure that everybody in Breckland has a safe place to call home.”
Colin Bothway, the original founder and owner of Barnham Broom Hotel and Golf Club, commented: “I’d like to thank the council for being steadfast in its commitment to maintain our landlord and tenant relationship over a long period. I’m delighted that we have now bought back the freehold and can recombine this with our operating business.
“The purchase strengthens our position to consider how we might evolve and grow further in the future for the benefit of our local communities, our golf and health club members, visitors and hotel guests, as well as our loyal staff and hard-working employees.”
Barnham Broom, which first opened in, offers two 18-hole courses, The Hill and The Valley, and a 52-bedroom hotel. Other facilities include a gym, indoor swimming pool, sauna, and a spa.
