Global Edition

 

North Weald Golf Club on sale for £1.5 million

9.00am 10th November 2003 - Property

FPDSavills and HLL Humberts Leisure have bee instructed by Activepoint Limited to offer North Weald Golf Club for sale. Offers in the region of £1.25 – £1.5 million are invited for the freehold property, fully fitted and equipped.
North Weald Golf Club is located on the A414 east of Harlow close to Junction 7 of the M11 and some 5 miles from the M11/M25 interchange. The club, originally conceived as part of the Compton Holdings group of courses, was developed by the current proprietor in 1995 and is being offered to the market as a retirement sale.
North Weald Golf Club is proprietary members golf club and part of the Barrelfield Golf Network. The facilities comprise an 18 hole 6,377 yard (par 70) golf course, practice facilities, 9,100 sq ft (845 sq m) clubhouse, golf shop and greenkeepers compound, together with a 1,575 sq ft (146 sq m) Essex barn, a general purpose building and let health club.
The course is laid out to an original Peter Alliss/Clive Clark design, subsequently modified by David Williams. Whitnell Contractors constructed the single loop of 18 holes overlaying a clay-based soil. Extensive drainage permits play throughout the great majority of the year.
The property extends to approximately 170 acres (69 hectares) split by the A414, which golfers cross twice during their rounds by means of an underpass.
The business, which commenced trading in 1996, offers further potential for growth from the golf course as well as the clubhouse facilities. There is already planning permission for an extension to the clubhouse to provide a new pro shop and manager’s accommodation and planning permission has recently been granted for conversion of part of the barn into a day nursery/crèche. The Essex barn is suitable for conversion into compatible leisure facilities, subject to planning permission being obtained.
The agents‘ particulars say that the business has not been operated on a fully commercial basis. Turnover from subscriptions, green fees, bar and food has declined from £536,604 in the year to 30th September 2000 to £465,239 in the year to 30th September 2002. There are approximately 330 members, of whom approximately 50% paid refundable joining fees of between £750 and £1,500, the liability for which is being retained by Activepoint Ltd.
Ian Simpson of FPDSavills golf agency team who is handling the sale said, “North Weald Golf Club is a well located and well presented golf business that offers great potential for growth. This area of Essex is likely to see further development along the M11 corridor, which is just a few minutes drive from the property. It is unusual to offer an established business with such clear potential for further growth available by virtue of existing planning permissions and buildings suitable for re-development.”

North Weald Golf Club www.nwgc.co.uk
FPDSavills www.fpdsavills.co.uk/golf
Humberts Leisure www.humberts-leisure.com

       

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