The Country Club of Gwinnett in Snellville, Ga. is scheduled to be sold at an online auction on March 20, with bidding set to begin March 18. The starting bid is $650,000, per the listing.
The Country Club of Gwinnett in Snellville, Ga. is set to go to the highest bidder.
The club is scheduled to be sold at an online auction on March 20, according to a listing on commercial real estate database LoopNet. Bidding is scheduled to begin March 18, the Atlanta Business Chronicle reported. The starting bid is $650,000, per the listing.
High operating costs and the persistent need to renovate and update aging facilities for a new generation have led many independent clubs to close, the Business Chronicle reported, partially because their land is often worth more than ever as development has encircled the clubs.
Atlanta’s prestigious East Lake Golf Club is undergoing an extensive renovation, the Business Chronicle reported. In 2019, Gwinnett County’s historic Northwood Country Club closed, making way for residential development.
But country club dues and fees are skyrocketing. Demand to join many clubs is high — with the percentage of clubs having a waitlist rising from 25% before the pandemic to 50% at the end of last year, the Business Chronicle reported. Some major players in the industry are doubling down on country clubs.
In 2021, Roswell’s Brookfield Country Club sold for the second time in two years, the Business Chronicle reported. Spirit Realty Capital, a Texas-based investor, bought it for $11.4 million from Sculptor Real Estate, which paid $9 million in 2020.
A modern take on the country club could disrupt the industry. Virtual private clubs, such as Atlanta’s Intown Golf Club, offer social gatherings and amenities — including golf simulators — at a fraction of the cost of traditional country clubs, the Business Chronicle reported.
Country Club of Gwinnett is scheduled to be sold on the Ten-X Commercial online auction platform, the Business Chronicle reported. Terence Vanek of Leisure Investment Properties Group is the listing agent for the property. Vanek did not respond to a request for comment.
The Snellville country club includes a golf course that was designed by former PGA Tour golfer and Brunswick native Steve Melnyk in 1993 and updated by architect Bill Boswell in 2004, the Business Chronicle reported. The semiprivate course, which covers more than 180 acres, has a full-service golf shop and practice facilities, including a driving range, putting green and practice bunker. The clubhouse overlooks a 24-acre natural lake that comes into play on six holes.
Other amenities at the club include the Grille Room restaurant in the clubhouse, which serves a seasonal grill menu and a full-service bar, the Business Chronicle reported. There is a banquet facility that can accommodate up to 100 people for business and private events.
The listing describes Country Club of Gwinnett as a “cash-flowing operation,” the Business Chronicle reported. There are more than 136,000 residents with an average annual household income above $99,000 in the immediate 5-mile radius, per the listing. This population spends more than $328.5 million annually on entertainment, hobbies, personal items and apparel, “indicating that people in the nearby demographic might purchase daily golf passes and membership plans.”