Global Edition

Pay & play portfolio on the market

11.00am 15th October 2002 - Property

HLL Humberts Leisure is instructed by Leeds City Council to offer its portfolio of five pay and play golf courses to the market on 75 year leases at peppercorn rents. Initial expressions of interest in the properties are invited by 5th December 2002. In addition Leeds City Council is offering the freehold reversionary interest in the five star Oulton Hall Hotel, which is let to De Vere Hotels Ltd.

The portfolio of pay and play golf courses, which are available individually or as a package, comprises:

Temple Newsam Golf Course  (36 holes, clubhouse, pro shop and practice facilities)

Oulton Park Golf Course  (27 holes, clubhouse and floodlit golf range)

Middleton Park Golf Course    (18 holes, clubhouse, pro shop and practice facilities)

Gotts Park Golf Course   (18 holes and Grade II listed clubhouse)

Roundhay Park Golf Course    (9 holes, clubhouse, restaurant and pro shop)

Ben Allen, head of HLL Humberts Leisure’s golf agency team, is handling the marketing campaign. “Leeds City Council has identified a number of key commercial objectives for the businesses,” he said, “including an obligation to upgrade the facilities and to ensure that each course remains a pay and play venue. This is a fine opportunity for the market to acquire a selection of golf businesses, all of which have great potential for commercialisation and growth. We anticipate a high level of interest in these properties.”

“The Council has decided to offer the long leasehold interests in its portfolio of golf courses to raise capital for reinvestment in other leisure facilities,” said a spokesperson for Leeds City Council. “The freeholds of each property will be retained and, in the interim, the lease for each course will enable the Council to exert control over its use.”

For further information on the disposal or to request a copy of the particulars, contact Ben Allen at HLL Humberts Leisure on 01962 835960 or ben.allen@humberts-leisure.com

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