The long leasehold land is approximately 156 acres (63 hectares) and is located approximately 2 miles south of Wokingham town centre, access to which is provided via Finchampstead Road (A321). Reading is situated some 8 miles to the north west and London is 40 miles to the north east accessed via the M4 motorway.
The former 18 hole golf course is now disused and overgrown. There are temporary clubhouse and office buildings located in the north west quadrant of the site.
The property is held under the terms of a lease dated 7th February 1996 to Eurogolf Course Construction and Management Limited. The lease is for a term of 99 years with effect from 01 January 1996 until 31 December 2094.
Use of the property is as a golf course or other use subject to landlord’s consent. There is a landlord’s break clause on the anniversary of the 50th and 75th year. The landlord is to pay to the tenant a sum representing the open market value of the tenant’s interest in the residue of the lease if the break occurs.
The agents, GVA Grimley Limited, say that they understand that the tenant has exercised an option whereby the annual rent has been reduced to a peppercorn.
Wokingham District Council is working on the Local Development Framework for the district to run from 2006 to 2026 and has asked landowners to submit information on sites they believe are suitable for development, the subject property (Ref IWK124/156) has been included within this process. Further enquiries should be directed to the Planning Department 0118 9746282.
The property, which has development potential subject to consents, is being sold by the Joint LPA Receivers at an asking price of £850,000.
Viewing is strictly by appointment with the sole agents GVA Grimley Limited and further information is available from Nathan Pask Direct dial 020 7911 2805 and email email@example.com