On the instructions of

For Sale

Eccleston Park

Merseyside L35 4PG

A freehold 18 hole proprietary golf club with well presented clubhouse in a strong commercial / urban trading location on the edge of Merseyside www.ecclestonparkgolf.co.uk

“Eccleston Park has developed a reputation as a friendly and vibrant golf club, with a constantly improving course, which provides an enjoyable and testing challenge for members and visitors alike...”

For Sale

Eccleston Park

Merseyside L35 4PG

Freehold High quality 18 hole 6,477 yard (par 71) golf course constructed to a modified USGA specification Practice facilities Attractive 633 sq m (6,800 sq ft) clubhouse with superb air conditioned function / conference facilities furnished, fitted and equipped to a high standard Modern greenkeeping complex Circa 50 hectares (123 acres) Established business with excellent reputation and high levels of repeat custom Commercial trading location between Liverpool and St. Helens – 851,750 resident population within a 20 minute drive time.

Forecast EBITDA(HO) for year end 31.12.14 c. £160,000 - showing a return to normalised trading following two years of exceptional weather disruption. Highly experienced local management team One of only a few proprietary golf businesses in the area 690 members (May 2014) Highly successful new Freedom Play Membership – the most sophisticated variable membership product in the market – representing a significant growth opportunity for the purchaser Guide price £1.45 million

Introduction GVA is instructed by Crown Golf to offer Eccleston Park Golf Club, Merseyside for sale - its location, remote from Crown Golf’s main portfolio in South East England, being the reason for the disposal. Eccleston Park Golf Club is a modern, well presented golf club situated in an urban trading location on the edge of Merseyside, and is one of only a few proprietary golf businesses in the area. The Club is forecast to achieve an operating profit (stated as EBITDA(HO)) of c. £160,000 for the year end 31.12.14, which represents a return to normal trading levels following the last two years’ weather impacted trading conditions. The guide price for the freehold interest in Eccleston Park Golf Club is £1.45 million.

Wigan

A59

A59

6

6

A580

5

St Helens 4

4

M6

St Helens

Eccleston ParkEccleston Park A58

M57

A57

M62

Liverpool

A570

Warrington

2

Liverpool

Widnes

A57

5

Runcorn

7

M62

6

5

M62

6

7

vibrant and friendly club, with

M57

St Helens

set in 123 acres of prime land Park Eccleston M62

Liverpool with easy access from Liverpool, Warrington

Warrington and St Helens...” Widnes

M53

Runcorn Ellesmere Port

M56

A5300

M53 M53

A5300

Ellesmere Port

Chester

M53

Location Chester

Eccleston Park Golf Club enjoys a commercial / urban trading location on the edge of Merseyside, between Liverpool and St. Helens, as shown on the location plan at the end of the brochure.

An Experian population profile confirms a resident population of 851,750 within a 20 minute drive time.

Approximate distances and journey times to the property are:

Please note: The post code for the property for use with sat nav is WA9 5BD.

Central Liverpool

9.6 miles/17 mins

St Helens

3.1 miles/8 mins

Manchester

26.5 miles/40 mins

(Source The AA)

With the M62 Motorway (junction 7) and the M57 Motorway (junction 2) circa 2 and 3 miles respectively from the Club and the nearby A57 leading directly into Liverpool, the property enjoys a highly accessible trading location in a densely populated urban area.

M6

an excellent 18 hole golf course

St Helens

Eccleston Park

A570

M57

2

Liverpool

M57

A58

Wigan

M58

M58

A580

5

“Eccleston Park is a modern,

M56

Description of the Property Eccleston Park Golf Club was established in 1999 and was acquired by Crown Golf that year. The Club has benefitted from a comprehensive refurbishment programme (completed in 2007) including: the re-modelling of part of the golf course; the extension and complete refurbishment of the 19th Century clubhouse; and the construction of a new greenkeeping complex. A courtyard development of high quality residential accommodation is situated towards the centre of the property, adjacent to the clubhouse. Converted in 2005 from a range of traditional farm buildings, the residential accommodation is in separate ownerships and is excluded from the sale. The golf club has been laid out over a mostly level site that extends to circa 50 hectares (123 acres). The facilities comprise:

18 Hole Golf Course The 18 hole golf course extends to 6,477 yards (par 71) from the white tees and comprises: five par 3s; nine par 4s and four par 5s. The course, which was constructed in 1997 and opened for play in 1999, is arranged as a single loop of 18 holes - with the first tee and eighteenth green starting / finishing at the clubhouse (albeit that several tees are within a short walk of the clubhouse – offering multiple starting points). Greens and tees throughout the course have been constructed to a modified USGA specification. A Rainbird automated irrigation system with pop up sprinklers is laid to all greens, with tees served by standpipes. The golf course has matured well since opening and now offers players a highly enjoyable and an established venue for golf. A golf course landscaping programme was undertaken through Autumn 2005 to Autumn 2006 to improve the definition of several holes. The course’s key characteristics are its gentle terrain, feature lakes and generous greens.

Practice Facilities An indoor teaching building, 4 netted practice bays, an irrigated practice putting green and 2 chipping greens are located close to the clubhouse / first tee. A junior practice ground (150 yards) is located nearby.

Greenkeepers’ Facilities The greenkeepers’ facilities are located centrally in the property, adjacent to the car park, with access off the main access road. The building is of 6 bay steel frame construction with timber weatherboard and concrete block elevations, under a profiled sheet metal roof, with a concrete floor and yard. The building comprises machinery storage areas, workshop facilities, mess room, staff shower, WCs, drying room, storeroom, chemsafe, office and mezzanine storage area. A bunded diesel tank, storage areas for course materials, pump house and the golf course irrigation tank are located nearby.

Eccleston Park

Clubhouse

First Floor

The clubhouse is located towards the centre of the property and is set amongst landscaped grounds with fine views over the 18th green and course beyond. The substantial, two storey building, parts of which originate from the 19th Century, is constructed of brick and timber weatherboard elevations under a pitched tiled roof. The clubhouse extends to approximately 633 sq m (6,800 sq ft) and comprises:

Stephenson Suite 120 covers (maximum) with integral bar comprising:

East Suite bar / lounge – 70 covers



West Suite (with separate entrance; dividing acoustic panel & overhead projector) – 50 covers Ladies and Gents WCs Balcony / roof terrace overlooking 18th green with external stairs to ground floor level.

Ground Floor Entrance lobby with lift and stairs to first floor

Ladies’ golf changing/ locker room / WCs

Satellite kitchen and goods lift

Disabled WC Golf shop

Gents’ golf changing/ locker room / WCs

Sales office

Lounge bar and servery

Plant room

Beer cellar

Store rooms (2)

Kitchen (commercially fitted and equipped with walk-in fridge)

Separate entrance to sales / admin offices with stairs to offices (at first floor level)

Food prep area Admin offices (2) Staff room Staff WC Store room

The clubhouse was extended and fully refurbished in March 2007. The whole accommodation is presented and is furnished, fitted and equipped to a high standard, with a warm, convivial and stylish atmosphere. The Stephenson Suite, Lounge Bar and Pro Shop are air conditioned. A tarmacadam surfaced golfers’ car park (with gated barrier entrance) adjoins the clubhouse and provides parking for over 100 cars.

Tenure & Possession Eccleston Park is freehold. We are instructed that vacant possession of Eccleston Park Golf Club will be available on completion of the sale, subject to members’ annual golfing rights. The access road to the property forms part of the freehold title. The courtyard of private houses situated adjacent to the clubhouse has been granted rights of way over the access road, subject to a maintenance contribution.

The Existing Business Eccleston Park Golf Club is an established proprietary golf business that has delivered significant operating profit in recent years - £183,000 in the year to 31.12.11 - and is currently forecast to deliver £160,000 for the current year (31.12.14). The Club’s trading performance for 2012 and 2013 was adversely affected by the exceptionally wet weather that was experienced across the country. However, despite these challenging operating conditions, the business still delivered a turnover of £771,000 and an EBITDA(HO) of £121,000 in the year to 31.12.13. During the 2013 calendar year the business mix was approximately 47% golf; 12% retail; and 41% food and beverage income, emphasising the strength of the business’ high margin golf income that helps drive EBITDA(HO).

Trading History Management accounts for the business for the years ending 31st December 2010 – 2014 can be summarised as shown opposite.

Year End 31.12.11 Subscriptions

Year End 31.12.12

Year End 31.12.13

Forecast 31.12.14

£302,000

£296,000

£274,000

£282,000

Green fees

£57,000

£44,000

£48,000

£52,000

Societies fees

£41,000

£27,000

£29,000

£31,000

£112,000

£96,000

£89,000

£92,000

£18,000

£10,000

£12,000

£13,000

Food & Beverage

£295,000

£310,000

£318,000

£303,000

Turnover

£825,000

£784,000

£771,000

£773,000

CoS

£167,000

£167,000

£165,000

£161,000

Payroll

£327,000

£334,000

£334,000

£317,000

Overheads

£148,000

£150,000

£151,000

£135,000

EBITDA(HO)

£183,000

£133,000

£121,000

£160,000

Shop Buggies & hire

The business is forecast to achieve a turnover and EBITDA(HO) of £773,000 and c. £160,000 respectively in the year to 31 December 2014. As at the 6 month period to 30 June 2014 the business was trading to this forecast. Detailed management accounts will be made available to parties who have made an accompanied inspection of the property and have signed a Non Disclosure Agreement.

Membership Eccleston Park Golf Club had a total membership of 690 as at 31st May 2014. Historic membership numbers are: Year to 31.12.13

632 members

Year to 31.12.12

688 members

Year to 31.12.11

691 members

Circa 50% of annual members renew their memberships on 1st May; the remaining memberships being on a rolling renewal basis. Fees for the current (14/15) season (including VAT but excluding EGU fees) are:

Annual Monthly

7 Day Individual

£803.00

£73.00

7 Day Joint

£737.00

£67.00

5 Day Individual

£638.00

£58.00

5 Day Joint

£627.00

£57.00

Intermediate

£528.00

£48.00

Junior

£165.00

£15.00

Member benefits include: a levy card offering 10% on standard prices; preferential guest green fee rates; complimentary room hire for functions / conferences; access to weekly competitions; official CONGU handicap and the benefit of Crown Golf’s Open Play policy.

Freedom Play Flexible Membership The Club introduced Freedom Play in August 2013. Freedom Play offers membership of the Club for a lower annual subscription of £295. This gives the member a number of credits to use as green fees in addition to which members buy top-up bundles of credits to exchange for further rounds of golf. Freedom Play provides an opportunity for significant growth in the membership, and from launch has attracted (as at 31st May) 94 new members to the club.

Green Fees The green fees for the current 2014 summer season include: Monday – Friday Peak (07.00 – 12.00)

£20.00 per person

Off Peak 12.00 – 16.00)

£16.00 per person

Twilight (16.00 – 18.00)

£14.00 per person

Saturday & Sunday Peak (07.00 – 12.00)

£25.00 per person

Off Peak (12.00 – 16.00)

£20.00 per person

Twilight (16.00 – 18.00)

£16.00 per person

Members’ guests typically pay £15.00 per round.

Roundage Crown Golf’s records confirm that the club achieved c. 26,000 rounds in the last 12 months ending May 2014.

Societies

Weddings, Conferences & Functions

Eccleston Park Golf Club is an ideal golf society venue and enjoys many repeat visits. 120 societies played at the course in the year to 31.12.13, with 72 societies having played or already booked for 2014.

Eccleston Park Golf Club has established an excellent reputation as a functions and weddings venue. 22 weddings were hosted during 2012 and 23 in 2013, whilst 23 weddings have already hosted / booked for 2014.

Buggy Hire

Licences

The buggy hire charges for the current season are:

St. Helens Council Licensing Department confirms that the property has been granted a Premises Licence under the Licensing Act 2003.

Visitor Guest

£20.00 per round £15.00 per round

The permitted opening hours of the premises are Monday - Sunday 07.00 a.m. to 01.00 a.m.; with licensed hours between 07.00 a.m. to 01.00 a.m. Monday - Sunday. The Stephenson Suite has a licence for Civil Ceremonies (for up to 70 people).

Golf Course Maintenance Equipment Eccleston Park Golf Club has a full complement of modern golf course maintenance equipment, the great majority of which is owned outright and is included in the sale.

Rateable Value St Helens Council confirms that the Rateable Value of the ‘golf course and premises’ is £56,000 (with effect from 6th March 2010).

Staff Eccleston Golf Club employs 11 full time and 22 part time staff. Further information on staffing levels will be supplied to parties who have made an accompanied inspection and have signed an NDA. It is understood that TUPE will apply to the sale of the property / the business.

Energy Performance Certificate The Energy Performance Certificate for the clubhouse confirms that the property has an Energy Performance Asset Rating of B (42).

Town & Country Planning The site lies within St Helens Borough Council. The Development Plan for the Borough is the St Helens Local Plan Core Strategy that was adopted in October 2012. The property is currently classified as Green Belt. The principal planning consents for the property include: 1993/066: Formation of 18 hole golf course including the excavation of lakes and ponds, together with the re-use and conversion of the farmhouse and main farm buildings (former Rainhill Hospital) to provide a manager’s house, staff accommodation, clubhouse, bar, function room, restaurant, professional’s shop and ancillary facilities, with related car park. The consent is subject to a S.106 Agreement requiring the Applicant to prepare (and subsequently implement) an ecologically based Management Plan (which has been implemented). 2004/0523: Alterations and extensions to clubhouse incorporating new pro shop, changing facilities and extended bar / dining area.

Basis of Disposal

Web Site

The guide price for the freehold interest in Eccleston Park Golf Club is £1.45 million.

For a further insight into Eccleston Park Golf Club visit www.ecclestonparkgolf.co.uk

The property is held within a separate company within the Crown Golf portfolio and thus the sale will be by way of the disposal of the entire issued share capital of Eccleston Park Golf Club Ltd.

Further Information & Viewing

Stocks are to be taken over by the purchaser, at valuation, on completion of the sale. The sale contract will include a clause reserving a percentage of future non golf / leisure development value to the vendor.

For further information on Eccleston Park Golf Club, or to arrange an accompanied inspection of the property, please contact: Ben Allen BSc Hons MRICS Direct line: 020 7911 2360 Mobile:

07920 812 018

Email:

[email protected]

8033

Ben Allen BSc Hons MRICS Direct line: 020 7911 2360 Mobile: 07920 812 018 Email: [email protected]

GVA is a trading name of GVA Grimley Limited. Conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property for whom they act, are: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. These particulars were produced in August 2014. Photographs are principally from August 2014.

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Important note