Advance Golf Partners recently spent $250,000 on renovations to the clubhouse and portions of the West End, N.C. course. Included in the listing are 7.9 acres for potential development, a 10,035-sq.-ft. clubhouse, a pro shop, locker rooms, offices, a restaurant, a fully equipped kitchen, a golf cart barn, maintenance building and parking for 128 vehicles.
Advance Golf Partners has listed 7 Lakes Golf Course in West End, N.C. for $2.9 million, The Pilot reported. The 155-acre property recently saw a $250,000 renovation of the clubhouse and portions of the course. Chris Charnas, owner of Links Capital Advisors, is representing the seller.
Jon Whittemore and Larry Galloway own 17 additional courses as part of their company, which specializes in improving the financial and operational performance of golf courses, The Pilot reported. The two met while working at ClubCorp.
In December 2014, the member-owned club decided to pursue a sale after a five-year drop in membership created a revenue shortfall, The Pilot reported. The property was bought by Advance Golf Partners in January 2015. At the time, Whittemore called the country club and course a “hidden gem” with “great bones” and “an unsung hero in the market.”
The course, located in the Seven Lakes South gated community, was designed originally by Peter Tufts III, great-grandson of Pinehurst founder James Walker Tufts and godson of Donald Ross, The Pilot reported. It opened for play in 1976.
When they bought the property several years ago, the ownership group invested about $120,000 into improvements including HVAC, roofing, interior paint, flooring, lighting, furnishings and televisions in a variety of high-traffic areas, The Pilot reported. About $63,000 was spent replacing sections of the cart path and restoring the greens to their original footprints.
According to records, the golf club appears to be on sound financial footing and has little deferred maintenance, The Pilot reported. The listing suggests that the property is “perfect for an investor looking to maximize their return or for an owner/operator looking for a long-term golf play.”
Attempts by The Pilot to reach the owners and course managers for comment were unsuccessful.
Included in the listing are 7.9 acres for potential development, a 10,035-sq.-ft. clubhouse, a pro shop, locker rooms, offices, a restaurant, a fully equipped kitchen, a golf cart barn, maintenance building and parking for 128 vehicles, The Pilot reported.
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