The Wallingford, Conn., club now owns the 175 acres its 18-hole golf course sits on after buying it from Gaylord Hospital for more than $2 million. Since 1960, the land has been owned by the hospital and the club had a 99-year lease. Despite now owning the land, the club has no plans to add modifications or expand.
The Farms Country Club in Wallingford, Conn., now owns the land its 18-hole golf course sits on after buying it from Gaylord Hospital for more than $2 million, the Meriden (Conn.) Record Journal reported.
Since 1960, the land the golf course sat on was owned by the hospital, General Manager Sean McLaughlin said. The club had a 99-year lease with the hospital, but “an opportunity came up for both sides” to make a change, McLaughlin added.
“The decision to sell some of our land assets will provide the resources needed to reinvest in our infrastructure, clinical practices and new services and technologies,” Tara Knapp, vice president of development and public relations at Gaylord Hospital, said in an e-mail. “With this purchase, the country club will be able to make improvements to their clubhouse and other buildings that they could not do on rented property.”
Prior to the purchase, the club owned about 10 acres of land, which is where the clubhouse, pool and parking area are found. After paying $2,125,000, the Farms Country Club now owns nearly 175 acres the golf course sits on, the Record Journal reported.
“It’s our existing golf course. There’s no change of use,” McLaughlin said. “We’re (leaving) everything as is and it’ll continue to be used as is.”
Asked why the country club decided to purchase the property from Gaylord, rather than continuing to operate under a lease, McLaughlin said being the landowner is beneficial for the business in the future, the Record Journal reported.
“You want to be in control of your own destiny,” McLaughlin said. “Now it gives us the ability to do what we need to do from a member-satisfaction perspective.”
Despite now owning the land, McLaughlin said there aren’t current plans to add modifications or expand, but because the club purchased the property, it’s able to make necessary changes if needed, the Record Journal reported.
“With enhancements on the course, we’re in a much stronger position,” McLaughlin said. “But we want to do so responsibly and don’t rush out to do something.”