Chesterton HMH has started 2004 with three large off market deals concluded in February/March 2004.
- The Suffolk Hotel Golf and Country Club – 3*, 40 bed hotel, golf course and leisure club – sold for in excess of £4.5 million. Chesterton HMH went to one potential buyer and exchanged contracts within two months.
- Camberley Heath Golf Club – 18 hole prestigious club in Surrey – sold for £6 million. Chesterton HMH went to a number of known buyers and concluded a sale within three months. There were four bidders.
- The Essex Golf Centres – 72 holes of golf over two courses – sold for over £5 million. A complicated leasehold transaction involving two successful outlets, the sale was concluded within 6 months.
Chesterton HMH is offering a complete service for all types of golfing venue in both the UK and mainland Europe. The buoyant start to this year follows a successful 2003, which saw the sales of:
- Golf Del Sur – Tenerife, 27 holes designed by Pepe Gancedo for €17 million
- Cely Chateau and Golf – Paris, 18 hole Nicklaus Co. designed course for €4.1 million
- Moatlands GC – Kent, 18 hole golf course with superb clubhouse for £2 million
- Vale Royal Abbey – Cheshire 18 hole course with magnificent clubhouse – circa £2.3 million
- London Golf Club – 36 holes by Jack Nicklaus guide price £8-10 million
- Machrie Hotel and Golf Links – Scotland, 16 bed hotel, 15 lodges and a classic course designed by Willie Campbell in 1891 – £1.5 million
There is a strong market for top of the range golf properties when handled correctly. In the UK commercial returns generally establish value, although the opportunity to acquire high quality products in need of improved management is also attractive.
In France there is growing activity with owners looking to acquire additional complexes and the realisation that southern France represents a true alternative to Spain and Portugal for holiday golf and second homes.
Statistics show that the percentage increase in the number of golfers in France has risen faster than in any other European country in the last 5 years. The Netherlands comes next with Denmark, Germany and Italy not far behind.
Both France and Germany developed many new courses in the 1990s and, as has happened in the U.K, Chesterton HMH believes that a fair number of these could change hands in the next five to ten years. Denmark and Italy may well need to build new courses to keep up with demand and there are several proposals for projects in Eastern Europe, in particular Slovenia and Croatia, where the climate is suitable for resort projects on the coast.
The small experienced team at Chesterton HMH handle sales throughout Europe and is well known for its contact base and discreet business approach. Nick Hopton, Tom Marriott and Andrew Hillier can be contacted at 54 Brook Street, London W1A 2BU Tel: +44 (0) 20 7491 1555 E-mail: info@chestertonhmh.com
Chesterton HMH www.chestertonhmh.com