Global Edition

Long Leasehold of Seckford Golf Club in Suffolk

11.31am 25th October 2013 - Property

Seckford Golf ClubSeckford Golf Club – 18 hole course, 4,981 yards, par 66 – is close to Ipswich; HMH Golf & Leisure is instructed to offer the leasehold for sale. The property extends to approximately 87 Acres (35 hectares)

The club is located adjacent to the A12 and is well situated for passing trade. The course is a challenging 18 holes with some stunning views. The original 9 holes were opened in 1991 and the second 9 holes in 1993.Each hole is different and the course is now beginning to mature well. The club has an excellent teaching facility to include a large outdoor driving range with 11 outdoor practice bays.

The clubhouse extends to about 363 sq m (3,908 sq ft) and comprises an attractive timber clad purpose built building. The accommodation comprises bar and seating area, professional shop, terrace restaurant (about 100 covers); changing rooms and so on.

Seckford Golf Club is run as a proprietary members club and as a commercial pay and play business. There are approximately 540 members who pay an annual subscription of £700 for a seven day membership and £600 for a five day membership. The renewal for golf membership is at the anniversary of joining. Most members pay on a monthly basis.

In 2012 there were 46 society events, corporate events, Christmas functions and weddings.

Green fees are currently at the rate of £32 midweek and £35 at weekends.

The business to 31st January 2012 generated sales in the region of £551,313, an 8% increase on the previous year. The management figures to 31st January 2013 show an increased turnover to £601,491.

Sales for the 7 months to end of August 2013 show a 7% increase on like for like sales compared with 2012. Detailed financial information will be made available to interested parties.

Tenure

The tenant is Golf GB LTD which holds two concurrent leases with about 28 years unexpired. Within both leases the tenant (only) has the option to extend the term for a further 50 years on similar terms.

The rent is currently £35,000. The rent is reviewed every 3 years and is calculated on the higher of the increase in the RPI OR corresponding percentage increase in agricultural rental values.

Full details are available through the agents HMH Golf & Leisure. Please contact Tom Marriott on 079006 720 45 email: tom@hmhgolf.com

HMH Golf & Leisure www.hmhgolfandleisure.com

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