More golf clubs for sale27th September, 2013 by Jenny Yu
Golf clubs continue to be placed up for sale as the market shows signs of recovery.
In July we reported that four prestigious golf clubs had been put for sale within a few days of each other.
Since then at least four more UK golf clubs have been added to the market, along with one of Ireland’s top golf venues.
Sherdons Golf Centre in Gloucestershire has been put up for sale with a guide price of £750,000.
The course is being marketed by GVA’s hotels and leisure team.
It has been in the same family ownership since it opened in 1992 and is being offered for sale as the directors are now looking to retire.
“The golf course is renowned for the quality of its greens and the centre has a well earned excellent reputation with a loyal customer base,” said Ben Allen of GVA, which is handling the sale.
Richard Chatham, the joint proprietor of Sherdons Golf Centre, added: “My brother and I have thoroughly enjoyed developing and operating Sherdons Golf Centre over the last 21 years. However, we all reach retirement age and this is our sole reason for selling.”
Weston Turville Golf Club in Buckinghamshire has also been put up for sale – with a guide price of £1.325 million.
The 40-year-old club, which has 320 members, turned over more than half a million pounds in 2011 and 2012. However, income from subscriptions, green fees, the pro shop and the restaurant has dropped over the past three years – for instance subscriptions’ income in 2011 was £211,832. It will be £178,715 this year.
It is also being sold because its directors wish to retire – after working for 22 years in the industry.
A spokesman said the business has “huge potential”, as the current directors do not live locally and have other interests.
Other British clubs to come onto the market in the last few weeks include Darland Golf Club in Wrexham and Dumfriesshire Golf Centre in Scotland.
However, perhaps the biggest club looking for a buyer this year is St Margaret’s Golf & Country Club in Dublin, which has a guide price of £1.64 million.
The par 73 proprietary club’s turnover for 2013 is budgeted at approximately £670,000.
Ian Simpson, a director at Savills, which is handling the sale, commented: “High quality design and construction has allowed St Margaret’s to become one of the best golf courses in the Dublin catchment area, providing an attractive golf landscape which has played host to prestigious events including three international tournaments. The property is currently owned by an overseas investment trust who are looking to rationalise their portfolio and we anticipate much interest from both domestic and international investors.”
Also in Ireland, Moyvalley Hotel and Golf Course, in County Kildare, has been put up for sale with a guide price of nearly £4 million.
The flurry of activity regarding golf clubs for sale comes as several golf clubs are reporting that they are investing in their venues this year – following years of minimal expenditure.