Global Edition

 

Golf club lease for sale

9.00am 22nd July 2003 - Property

Blackwater Valley Golf Club is located in a densely populated area mid-way between the M3 and M4 motorways. Camberley, Bracknell, Wokingham, and Fleet are within five miles. Reading, Frimley, Farnborough, Farnham and Aldershot are within ten miles.

The golf club is situated on the northern boundary of Yateley, in a popular recreational area created from previous gravel working. The golf course adjoins playing pitches, water sports lakes and the local cricket and hockey club. The valley also has lakes for fishing and nature reserves. Although in a densely populated area the site has a rural feel to it.

The 9-hole golf course was built in 1993 and opened in 1994. There has been an ongoing series of improvements since then. The facility is primarily designed for all levels of golf. Ladies and senior golfers find the course well suited to them and the golf club has an excellent year round teaching capability.

The course has a length of 2,385 yards, par 34 with one par 5, five par 4 and three par 3‘s. The recent acquisition of some extra land enabled the length to be increased by 140 yards, with hole number six increasing to 511 yards. This new tee is shortly due to open. Hole number 5 has also been lengthened.

The greens and tees are irrigated by an automatic pop up sprinkler system with water taken from the lakes. Abstraction is permitted throughout the year. There is a practice putting green and chipping area close to the clubhouse.

The floodlit driving range opened in 1993 and has 30 bays. It is built with a steel frame and clad with timber giving it a rustic appearance. Balls are dispensed from a machine. The range building also houses the greenkeepers‘ office and equipment..

The brick and tile clubhouse has an area of about 325m² (3,500sq ft), all on a single floor. Golfers enter through the pro shop where green fees are collected. Adjacent to this are an office and changing rooms. The lounge bar adjoins an attractive conservatory, which can seat up to 40 people. There is a small kitchenette and a store but no kitchen. Simple snacks and drinks are dispensed from the bar and kitchenette.

The facility is maintained and operated by a small staff. There are two full time greenkeepers with casual help during the summer. The clubhouse is managed by the self-employed golf professional, who runs the shop on a joint venture business with the owner and also provides lessons. There are two assistant professionals.

Although primarily a pay and play operation, there are 50 members paying an average of £325 per annum. A further 95 members pay £49 per annum and receive discounts on green fees and range balls.

The business has been developed and operated by the current owner who now wishes to retire. The golf club has not been his main business and has been operated on a casual basis. It generates a modest operating profit before depreciation and tax but with more intensive management could generate significantly higher levels. The owner is prepared to discuss the financial information with interested parties who view the property.

The property is held on a 40-year lease from 1st October 1993 on FRI terms. The rent is reviewed at five yearly intervals to one fifth of the open market rent. The current rent is £20,000 per annum.

The recent acquisition of extra land has not been added to the lease yet but will be part of the sale process. The landlord has stated that he is prepared to extend the lease to a purchaser so that 40 years is available. This is however not a legal undertaking on his part.

Offers are invited for the leasehold property and business, fully fitted and equipped as a going concern. Stock in trade is to be taken over by the purchaser at valuation on completion of the sale.

The club has a good website www.blackwatergolfclub.co.uk

Summary

Prime location – edge of Camberley

Large catchment population

Good all round golf facility

9-holes 2,245 yards par 34

30 bay floodlit range

Easily managed modern clubhouse

Attractive setting

Free draining soil

All viewings are to be by prior appointment through the sole selling agents Strutt and Parker. Please contact Lindsay Flack on 01722 344056 or by e-mail lindsay.flack@struttandparker to arrange this. For additional information please contact Charles Greville-Heygate on (01722) 344052 or by e-mail charles.greville.heygate@struttandparker.co.uk

       

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