Traditional Golf Properties sold the 229-acre course in Providence Forge, Va., on March 13 to the Brickshire Community Association. The course will now be run by Wingfield Golf Management Co., which plans to tweak the rates for rounds and membership at the property.
The owner of three area golf courses has unloaded one of its clubs, turning it over to the residents of the surrounding neighborhood. Brickshire Golf Club in Providence Forge, Va., was sold on March 13 for $2 million to the Brickshire Community Association, the Richmond (Va.) BizSense reported.
The 229-acre course was sold by Traditional Golf Properties, which still owns neighboring Royal New Kent Golf Club and the Golf Club at Stonehouse in Toano. Those two courses shut down in January and have remained closed as Brickshire remained open as usual and its deal played out, BizSense reported.
The trio of semi-private clubs was put up for sale last year and went under contract to an unknown buyer in the summer. That deal never materialized, creating an opening for the Brickshire association, BizSense reported.
Jerry Assessor, president of the association, said the deal first had to pass muster with a majority of Brickshire residents and lot owners. “The encouraging part is that the neighborhood came together,” said Assessor, adding that the group needed two-thirds of the lot owners in Brickshire to vote in favor of the deal.
“That number was exceeded and that is a big feat in this day and age. The owners recognized the value of maintaining the golf course as the centerpiece of the Brickshire neighborhood,” Assessor said.
Traditional Golf owner Paul Mauk could not be reached by BizSense for comment about the Brickshire sale or the future of the company’s other two local courses. It paid $425,000 for Brickshire in early 2010. It has owned Royal New Kent and Stonehouse since 2001, paying $5 million for each course that year, BizSense reported.
C&F Bank, the lender on the property for the previous owner, is also the lender for the association’s purchase. The course will now be run by Wingfield Golf Management Co., a South Carolina-based company that manages Viniterra Golf Club in New Kent, Va., BizSense reported.
Assessor, who has lived in Brickshire since 2008, said the majority of residents recognized that while golf is often a tough business, it was more favorable for the neighborhood to determine the future use of the property, rather than a third-party owner, BizSense reported.
“It’s not an endorsement of golf as an industry,” he said of the deal. “It was the best solution for this community. It means we can control our own destiny.”
The association and Wingfield are tweaking the rates for rounds and membership at the course, with packages for residents and non-residents, BizSense reported.