“There is strong demand” as another UK golf club is bought

Alistair Dunsmuir
By Alistair Dunsmuir May 18, 2021 09:18

A Yorkshire venue has become at least the sixth golf club in the last few days to be sold.

Styrrup Hall Golf & Country Club, which opened in 2000, has been acquired by Sheffield-based transport and property company BHI Group for ongoing golf use, for an undisclosed amount.

It had a guide price of £1.7 million.

The freehold property, which was offered to the market as a retirement sale, comprises an 18-hole, 6,745-yard course, 15-bay floodlit driving range, practice facilities and a two-storey clubhouse, all set in 150 acres.

Its annual earnings before interest, taxes, depreciation and amortisation (EBITDA) was £113,000, and its turnover £885,000, with a mix of 38 percent membership, range and daily fee income, 52 percent food and beverage sales and 10 percent miscellaneous and rental income. However, these are figures from before the pandemic started, and since then golf has seen a participation surge.

Styrrup Hall Golf & Country Club. Image from Facebook

Phil Ramsey, who developed the club with his late son, said: “Selling the club after so many years of ownership was always going to be difficult for our family. Finding the right buyer was a key priority for us and, after much searching, we are confident that we have sold to a buyer that not only has the club’s best interests at heart, but also the financial backing to take the club into the future. I wish David Simpson and his team every success, and I am confident that they will deliver on our expectations for the benefit of all.”

David Simpson of BHI Group said: “I am delighted with the recent acquisition of Styrrup Hall Golf & Country Club and would like to thank Phil Ramsey for his hard work and dedication to build such a successful club. It is my intention to continue to build upon that success and keep members, as well as the local community, at the heart of anything we do. Our plan is to develop and enhance the facilities to make it a sustainable business for the future, whilst ensuring it is the destination of choice for many.”

The venue was put on the market in 2017. Ben Allen, who handled the sale, commented: “The sale clearly demonstrates the market’s strong ongoing demand for golf businesses.”

In just the last few days, Fairwood Park Golf Club in Swansea, has been sold to a local family for an undisclosed amount. Welbeck Manor Hotel and Sparkwell Golf Course in Devon has been purchased by an undisclosed buyer, South Winchester Golf Club has been sold to a housing company, Stoke Park Country Club, Spa & Resort has been sold to an Indian billionaire for £57 million and Europe’s largest golf retailer, American Golf, has purchased High Legh Park Golf Club for £2.7 million.

 

Alistair Dunsmuir
By Alistair Dunsmuir May 18, 2021 09:18
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