English golf club dissolves itself and is looking for a buyer

Alistair Dunsmuir
By Alistair Dunsmuir June 18, 2020 07:27

A private members’ golf club has voted to dissolve itself and provide an opportunity for a buyer to take it forward.

During the lockdown, The Herefordshire’s members called an extraordinary general meeting during which they voted to dissolve the club, and it has now been put on the market with a guide price of between £1 million and £1.25 million.

The issues it has faced mean it is likely to transfer from a private members’ club to a proprietary facility.

In the marketing pack offered to potential buyers, it states: ‘Inconsistent management and lack of investment over time have brought challenging financial circumstances in recent years, which have only been partially addressed by the club’s newly appointed executive committee.

The Herefordshire

‘Thus, following a club EGM in April 2020, at which the members voted to dissolve the club, the opportunity now exists to shape the next chapter of The Herefordshire Golf Club’s history.

‘A purchaser is sought for the property, specifically one who will undertake to preserve the future of the club, and to invest in the facilities, for the benefit of all.’

First established in 1896, The Herefordshire, designed by James Braid and a member of the Society of James Braid Golf Courses, is the oldest golf club in Herefordshire, and moved to its current location in 1932.

Described as the ‘Gleneagles of the Midlands’, it was selected as the host for the Midlands Mid-Amateur Championship originally scheduled for May 2020.

‘The Herefordshire Golf Club operates as a true private member’s club facility,’ adds the marketing brochure.

‘Offers that meet the club’s objectives are invited for the property, based on a guide price of £1.0 – £1.25 million. All options for the disposal of the property will be considered, including an outright sale, joint venture, sale and leaseback and so on, albeit that a sale of the freehold, along with the promise of capital investment, is seen as the most likely scenario to secure the club’s long term future.’

 

Alistair Dunsmuir
By Alistair Dunsmuir June 18, 2020 07:27
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2 Comments

  1. Peter June 19, 12:48

    Inconsistent management has that effect ! Why not “semi-private ?” Likely going to be lots of competition on the “selling front !” And…who wants a club that consistently has financial issues !! Those days are over !

    Reply to this comment
  2. Gareth M June 18, 11:01

    Another good article by Alastair and a Club who’s plights I recently discussed with Tom Burton on the “New Rules Podcast”

    https://www.youtube.com/watch?v=Hl2k6Hw2fhs&feature=youtu.be

    Reply to this comment
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