A golf course on the Dorset / Somerset border, which went into administration in August 2010, has been sold after attracting a significant number of bids, according to the agents Savills.
Chedington Court Golf Club, five miles from Crewkerne and 11 miles from Yeovil, comprised an 18-hole parkland golf course, substantial clubhouse and two bedroom residential bungalow, set in circa 140 acres of land.
A high level of interest prompted a decision by the Administrators (RSM Tenon) to set a closing date for late October 2010, which resulted in over 10 offers being received. The property was sold for a figure well in excess of the guide price of £595,000. Interest was particularly strong from local buyers, some of which were keen to continue the golf course use, whilst others wished to return the golf course to agricultural use.
Kay Griffiths of Savills, who handled the sale, says: “Given the background to the sale, and the need to ensure that the best price was achieved by the Administrators (RSM Tenon), pricing the property at a realistic level and undertaking comprehensive local and national marketing were key elements of our strategy.
“We were extremely encouraged by the level of interest, which demonstrates the firm appetite of the market for realistically priced leisure properties, where the combination of business and underlying asset value can appeal to a broad range of purchasers.”