Global Edition

 

Freehold Leisure Investment

8.10am 14th November 2006 - Property

Seckford Golf Course is located close to the A12, 8 miles north east of Ipswich (population 117,069). Just on to the market is a rare opportunity to buy the land upon which the club was developed – a leisure investment comprising c.36 hectares (89 acres) of freehold land let on FRI lease terms at a current rent of £28,927 per annum. Offers are invited. No guide price is available.
The rent was last reviewed on 3rd December 2005. The next review is 3rd December 2008. The rent is payable quarterly in advance. Rent is reviewed to the higher of the current rent, RPI or 4.1 times the agricultural rent for arable land under the 1990 lease and 4.6 times under the 1993 lease.
The leases are for a term ending 3rd December 2040 but the tenant has the option to renew for a further 50 years on the same terms. The tenant may assign the leases with landlord’s consent but if acquired by the owners of the adjoining Seckford Hall Hotel, 20% of the purchase price is paid to the landlord.
The lease has tight controls on the use of the site and any further development. The leases contain a forfeiture clause in the event of non payment of rent or breaches of covenant. The tenant is Golf GB Ltd. The original tenant who assigned the leases to Golf GB Ltd is a guarantor.
Seckford Golf Course is operated as a proprietary members club with green fee players welcome. Current charges are £525 for a 7 day subscription or £22 for a green fee during the week and £30 at weekends. Information about the club can be found at www.seckfordgolf.co.uk
The property is offered for sale by private treaty. All viewings are to be by prior appointment only through the sole selling agents, Strutt & Parker. To arrange a viewing or for further information please contact Charles Greville-Heygate on 01722 344056 email: leisure@struttandparker.co.uk

Strutt & Parker www.struttandparker.com/leisure

       

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