The leisure advisory team of leading independent commercial property expert GVA has completed the sale of three golf courses in recent weeks: Lostwithiel Hotel Golf & Country Club, Cornwall; Old Nene Golf & Country Club, Cambridgeshire; and Eleven Arches Golf Club, County Durham.
Lostwithiel Hotel Golf & Country Club comprises an 18 hole 5,907 yard (par 72) golf course with 28 letting bedrooms and clubhouse / function accommodation. Set in a popular tourist location between Liskeard and St Austell, and close to the Eden Project, this freehold property has been acquired by a local entrepreneur with existing experience in the golf and leisure sector. The sale completed on 30 November 2012.
Old Nene Golf & Country Club comprises a 2,789 yard (par 34) golf course, 13 bay floodlit golf range, and temporary club house. The freehold property also includes a four-bedroom bungalow and three two-bedroom lodges, with planning consent in place for an additional 28 lodges. The property, which is located betweenPeterborough and Huntingdon, was sold on behalf of Grant Thornton off a guide price of £725,000 and completed in late November 2012.
Eleven Arches Golf Club at Bishop Auckland is a part complete 18 hole golf course, with 14 bay golf driving range and former barn with planning consent for conversion into a clubhouse. The golf facilities are complimented by seven one and two bedroom cottages, a fishing lake and a development site with planning consent for 24 holiday homes. The Club was acquired by a local charity in October 2012.
Ben Allen, Director in the Hotels and Leisure team at GVA, said: “Following on from our sale of Aston Wood Golf Club, which completed on 1 October 2012, these three further sales confirm that there is keen interest in the golf sector from a wide variety of purchasers throughout the country. Golf courses offer very good value for money, a lifestyle interest for many buyers, and provide the kudos of owning your own golf club.”
Ben Allen continued: “We will shortly be bringing Prestatyn Golf Club to the market. This Championship links private members’ golf club is one of the most renowned links golf courses inNorth Wales. It will be fascinating to see who acquires this venue, which hosts the Welsh Open Strokeplay Championship, the Welsh Amateur Championship and the Welsh Ladies Championships. Offers in the region of £1 million – £1.25 million are to be invited for the freehold property.”
For further information on the golf sector contact Ben Allen on 0207 911 2360 or ben.allen@gva.co.uk
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