CROWN GOLF’S COTGRAVE PLACE GOLF CLUB GOES ON SALE

Leading golf course owner / operator Crown Golf has put Cotgrave Place Golf Club, near Nottingham, on the market at a guide price of £2.35m.

The magnificent 36-hole freehold venue, one of the East Midlands’ premier golf facilities, is set in over 240 acres and includes a floodlit driving range. With almost 1,000 members and strong green fee, golf society and function revenues, the highly profitable business has a proven trading record. Its two-story 1,150 sq m clubhouse provides conference and banqueting facilities for up to 150 people seated.

Set in glorious Nottinghamshire countryside, in a commercially convenient location 15 minutes from the city centre, Cotgrave Place Golf Club – established in 1991 – has a favourable business mix between its golfing, retail and F&B incomes.

Crown Golf has engaged Humberts Leisure to manage the sale, which forms part of the Binfield, Berks-based company’s strategic plan to build a long-term, sustainable golf business.

Stephen Lewis, CEO of Crown Golf says, “Concentrating our golf clubs in the south of England has its operational benefits, and this was a key consideration in our decision to sell Cotgrave Place Golf Club in Nottinghamshire.

“As a group we continue to focus on those clubs which we wish to retain either for operational reasons, or for their development potential.”

Expressions of interest should be addressed to Ben Allen at Humberts Leisure, 01962 835960, email ben.allen@humberts-leisure.com.

Q&A with Stephen Lewis, Crown Golf’s Chief Executive Officer

Why have you decided to sell Cotgrave Place Golf Club?

"Following a phase of acquisition in 2004-2007, we have entered into a period of consolidation, focussing on the clubs which the business wishes to retain for the long term - either for operational reasons, or as a result of their development potential.”

Have club staff and members been told?

"Yes, and we would like to take this opportunity to thank them all for their efforts, support and loyalty over the years. Cotgrave Place Golf Club is a highly profitable business and we would expect to find a buyer quickly. Therefore, we hope there will be minimal impact for staff and club members during this process."

Looking at the map of Crown Golf’s courses, is there a geographical reason why you have chosen to sell Cotgrave Place Golf Club?

"The sale of The Vale (Worcestershire) and The Chase (Staffordshire) in 2009, and handing back Abbotsley (Cambridgeshire) to the landlord in Spring 2010, have all helped us to create a business which is more based around the south of England. This relative concentration of clubs has its operational benefits, so yes – geography was a consideration in our decision to sell Cotgrave.”

How is Crown Golf trading in the current economic climate?

"The cold winter did not help any of us in the golf market, but our annual membership renewals this spring have been excellent; our flagship venue, St Mellion International Resort, is trading very strongly, and has recently opened its new Kernow Course; and our green fee and casual lines are performing well. Like all businesses, we have to adapt to the prevailing economic conditions, and we will always explore all our main options, but every decision we make has to fit in with our long-term plan. We believe that is a sensible approach.”

STEPHEN LEWIS, Chief Executive Officer, Crown Golf
+44 (0)1344 383975, s.lewis@crown-golf.co.uk

MATTHEW LYNWOOD, Property Director, Crown Golf
m.lynwood@crown-golf.co.uk

BEN ALLEN, Humberts Leisure
+44 (0)1962 835960, ben.allen@humberts-leisure.com

ANDY HISEMAN, Hiseman Limited
Tel: +44 (0)1780 757461. Email: andy@hiseman.com