Williamsburg Country Club, York Va., is being sold to a group of investors from Virginia Beach, and will remain a private club, according to The Virginia Gazette.
John Lynch, President of Williamsburg CC, confirmed in the article that the club leadership has reached a preliminary agreement with Williamsburg Golf Investors 1 LLC to buy the club. The deal will preclude a large hike in dues for existing members and ensures the future of the club, with major upgrades planned for the property.
In lieu of a cash sale, Williamsburg Golf Investors 1 will revamp the golf course, including installing new Bermuda hybrid fairways. The greens will benefit from a new sprinkler system, and some will be relocated. Concrete golf cart paths will be added. An additional entrance will be created, and other minor renovations are planned for the clubhouse, which was renovated and expanded years ago. The work is expected to take seven months.
“The way the deal is structured, the buyers are taking over our debt,” Lynch explained. “When they redo the course, they’re expecting to spend $3.5 million to $4 million. Add that to the debt, and it’s over $5 million.”
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