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Crown Golf announces pending sale of three golf clubs

8.12am 4th February 2009 - Property - This story was updated on Friday, April 9th, 2010

Crown Golf, the UK’s largest golf course owner/operator, has today announced that three of its 34 golf properties will be placed on the market in the near term.

The Binfield, Berks-based company, which counts the flagship St Mellion International Resort in Cornwall among its assets, said that the three clubs are all trading profitably, representing an attractive proposition to be purchased either singly or as a group.

The sales, which are being managed by Humberts Leisure, comes as part of Crown Golf’s strategic plan to build a long-term, sustainable golf business.

Stephen Lewis, Crown Golf chief executive officer, said today, “Following on from a period of substantial investment in the UK Golf Market Crown Golf now owns and operates 34 golf clubs.

“During the past three years the focus of the business has been on the integration of acquired clubs to harmonise operational standards across the business, illustrated by Crown Golf being awarded the title of Golf Group of the Year for the last two years in succession.

“We have also undertaken a thorough review of the opportunities for developing our sites further, both from the perspective of additional leisure facilities and potential residential development.

“The business continues to invest in golf, is developing Crown Golf Academies at 22 of our clubs and is in the process of completing a £20m refurbishment of the St Mellion International Resort, which will be fully operational again from June 2009.

“However as a part of establishing the correct platform for long term sustainable growth we are now planning a period of consolidation, focussing on the clubs which the business wishes to retain for the long term – either for operational reasons, or as a result of their development potential.”

Expressions of interest in the three clubs should be addressed to Ben Allen at Humberts Leisure, 01962 835960, www.humberts-leisure.com

Crown Golf is Europe’s largest golf course owner/operator, with 34 UK golf venues and more than 50 golf courses. The group was established in 1994 to put together a group of owned and operated golf courses and by June 2002 the company owned eight golf clubs in the UK and one under management.

In 2002, Crown Golf was bought by the privately held Australian investment company Bennelong Group Pty Limited. In 2004, Crown Golf acquired American Golf UK from American Golf Corporation and NGP Realty Sub, which had operated many courses primarily located in the South East, around London.

Through merger and acquisition, Crown Golf has become the largest golf course owner/operator in Europe and it added its 33rd golf club in October 2007 with the purchase of Pine Ridge Golf Club from racehorse owner and golf developer, Clive Smith.

The company is currently redeveloping St Mellion International Resort, home of the Nicklaus Signature Course, the first in the UK to be designed by 18-time Major-winner Jack Nicklaus. It is also building its 34th venue, a new 9-hole golf complex in Hertfordshire.

Crown Golf www.crown-golf.co.uk

       

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