Lot 03 West Middlesex Golf Club, Greenford Road, Southall, UB1 3EE

Bidding Closed

SOLD FOR

£2,550,000

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 7732 681 156

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Clare Wood

clare.wood@walkermorris.co.uk
+44 (0) 113 283 2500
Description
Map
Viewings

Addendum
The successful purchaser will need to comply with the Secured Lender’s AML/KYC requirements within the two-week exclusivity period and if they fail to do so the bidding deposit will be forfeited. The brochure and Bidding Conditions within the legal pack have been updated to reflect this change and prospective purchasers' attention is drawn to these. 2. Any assets (including the banqueting hall) on the land occupied by the third party are not owned by the Company and, as such, do not form part of the transaction.
Property Summary
  • On behalf of the Joint Administrators
  • Established West London golf club
  • Approximately 50.84 hectares (125.63 acres)
  • Includes a clubhouse, banqueting hall and two semi-detached houses
  • Asset management opportunities
  • Business sale with best bids taking place on 12th March 2020
  • Please refer to Bidding Conditions in the legal pack
  • Bidding Registration deadline 12.00pm on Friday 6th March 2020
Tenure

Long leasehold for a term of 99 years from 4 April 2001 (thus having approximately 81 years unexpired) at a peppercorn rent.  The freeholder is London Borough of Ealing.

Location

Southall, with a resident population of 381,000 (2017 census), is a suburban district of West London.  Located on the Uxbridge Road (A4020), the area is situated 11 miles west of central London, 6 miles south west of Wembley and 6 miles north of Twickenham.  The M4 motorway (Junctions 2, 3 and 4) is close by, whilst the M25 motorway (Junction 15) and Heathrow International Airport are also easily accessible. West Middlesex Golf Club is situated either side of Greenford Road, which runs northwards from Uxbridge Road (A4020) to the A40.  Well served by numerous local bus routes, the property is close to mainline train services at Hanwell, Southall and Greenford stations as well as underground tube services at Greenford (Central Line). The golf club was established in 1891 and is one of the closest clubs to central London. 

Description

West Middlesex Golf Club is set in a site of approximately 50.84 hectares (125.63 acres) and comprises an 18 hole, 6,127 yard, par 69 golf course.  The property includes a clubhouse with attached staff accommodation, green keeper’s complex, storage building and a pair of semi-detached houses. A small parcel of land with banqueting hall to the south of the site is currently occupied by a third party (refer to legal pack). 

Accommodation

Two storey clubhouse with golf professional’s shop, changing facilities and store rooms on the ground floor and office, bar and function space on the first floor

• Two storey residential accommodation attached to the clubhouse currently occupied by the bar steward

• Separate single storey brick-built structure previously used as a golf professional’s shop but now used for storage

• A pair of semi-detached houses currently let on assured shorthold tenancies

• Green keeper’s complex including steel portal framed storage shed, storage container and staff room with an additional container

• To the south of the container there is an area of land and banqueting hall currently occupied by a third party

Tenancy

We understand the banqueting hall has been let on a licence to an operator since 2014. The current rent is believed to be in the region of £20,000 - £30,000 per annum. The pair of semi-detached houses are separately let on assured shorthold tenancies (ASTs). Prospective purchasers are advised to refer to the legal documents.

Planning

London Borough of Ealing (020 8825 6600) www.ealing.gov.uk

VAT
Please refer to Legal Documents
Property Table

The Existing Business

Trading History

West Middlesex Golf Club was established in 1891 and is operated as a private members’ golf club under the company name of The West Middlesex Club Limited. which was placed into Administration in December 2019. The Company currently employs twelve full time staff and unaudited financial statements for the year ending 31 December 2018 can be summarised as follows:

Turnover

2018 (£)

Subscriptions

293,330

Green fees

8,680

Competition fees

3,484

Social events

(2,660)

Rent receivable

25,200

Bar sales

86,126

Hall hire

(105)

Total

414,055

Cost of sales

(78,715)

Gross profit

335,340

Other operating income

13,108

 

Overheads

2018 (£)

Selling & distribution expenses

235,723

Administration expenses

72,851

Establishment expenses

53,348

Operating (loss)/profit

(13,474)

Interest payable

31,302

(Loss)/Profit for the year

(44,776)

*Further information is available by contacting BidX1

 

Golf Membership

There are currently in the order of 347 members across all membership tiers ranging from full and life members to social and honorary members (a full breakdown of the current membership can be found within the legal pack). Typical membership fees for the current season are as follows:

Category

Cost (£)

Full

1,440

5 Day

990

Junior (age dependent)

50 – 950

Colt (30-35 years)

999

 

Green Fees

Green fees are currently £15 - £24 on weekdays and £30 - £40 at weekends. There are some special offers currently available and the green fee for Under 18s accompanied by an adult is currently £10. A full breakdown can be found at www.westmiddlesexgolfclub.co.uk.

 

Grounds Maintenance Equipment

There are a number of items of golf course maintenance equipment that are mainly held on finance agreements. Further information is available by contacting BidX1..

EPC

Please refer to the legal pack


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,000 (exclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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