English Golf Courses

Cornish club is brought to market

Crown Golf reveals it is seeking a new owner for popular St Mellion International ResortCrown Golf reveals it is seeking a new owner for popular St Mellion International Resort

St Mellion International Resort has become the latest high profile UK golf club to be put up for sale.

The Cornish destination has been brought to market after its owner, Crown Golf, carried out a strategic review of its British golf portfolio. No guide price has been offered for the resort, although it is expected to attract a number of interested parties.

The news follows the sales of the likes of Wentworth, Turnberry and Fairmont St Andrews and was announced just days after another top resort, Brocket Hall in Hertfordshire, was put on the market.

INVESTMENT

The decision to put St Mellion up for sale will come as a surprise to many, not least because of the considerable investment made in the property in recent years. This includes the development of a new 80-bedroom resort hotel complex, with spa, banqueting and conferencing facilities, as well as a clubhouse enlargement and a raft of changes to the two 18-hole on-site championship golf courses, the Kernow Course and the Nicklaus Signature Course.

As recently as December, the resort was given outline planning approval to develop an extra 265 holiday homes, with plans to develop a new ten-room spa also reportedly at an advanced stage.

Despite all that, however, its owners believe the time is right to find a new buyer for the resort, with the worst effects of the global economic downturn now widely thought to be over.

OPPORTUNITY

“We believe that, with the economy returned to growth, and particularly with the increased recent levels of interest in the UK golf resort market by property developers, now is exactly the right time to offer this unique opportunity to the market, although any sale would naturally be conditional on full value being achieved,” said Stephen Towers, the CEO of Crown Golf. “It remains business as usual at the resort.”

Meanwhile, Brocket Hall is also looking for a new  owner after it was placed into administration.

A ‘protracted period of poor trading’ led to financial difficulties for the venue. Just last year, it had announced  plans to spend almost half a million pounds on a new fleet of buggies and greenkeeping machinery, as well as upgrades to its changing room facilities and restaurant.

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