Global Edition

 

Popular golf club exceeds guide price

12.25am 1st April 2008 - Property

New owners have been found for a successful golf club close to the M1 in Bedfordshire. Caddington Golf Club, near Luton, developed into a well established business by its previous owner, was bought for more than the guide price of £1.25m.

The attractive proprietary members’ golf club, originally built for Vauxhall Motors’ employees and once known as Griffin Golf Club, is set in a rural location just four miles to the west of Luton and 36 miles to the north of central London.

Caddington’s facilities include an 18-hole golf course, practice facilities and a purpose built clubhouse, set within about 132 acres. The gently undulating site incorporates a good range of golf hazards, combining bunkering with natural features such as streams, ponds and ditches. The golf course opened in 1985 and now has a membership of about 400.

There is also a flat area of the site, currently used for flying model aircraft, which could be developed (subject to planning permission) to provide additional golf course facilities.

Kay Smith of Savills Regional Leisure Team in Oxford, who marketed the club, said, “The previous owner invested heavily in the property over the past decade, particularly through extensive drainage and irrigation works and the development of a modern clubhouse.

“This, along with the very competitive guide price and the club’s proximity to the M25, helped to pull strong interest from potential buyers and we are pleased to have concluded the sale in a relatively short time.”

The new owners are a group of investors led by Michael Sanders, Richard Swann and the construction group McGees. Michael Sanders said, “We believe that the club has a lot of possibilities. Jonathan Gaunt has been instructed to design a second course. Subject to receiving the necessary planning approval, we intend to expand the clubhouse and to develop the practice ground into a full driving range facility. For the first time the club will have a resident golf professional – Darren Turner, currently at Redbourn Golf Club, will be joining us in May.”

       

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