Owner CNL Lifestyle Properties has put the Lake Havasu City, Ariz., property on the market for just under $5 million. The combined golf courses are 221 acres and the 5,565-sq. ft. clubhouse includes a pro shop, restaurant, offices, storage space, locker rooms and kitchen.
The Courses at London Bridge Golf Club in Lake Havasu City, Ariz., which are two of the original golf courses in the city, are on the market as of May 19 for $4,950,000, as confirmed by club management, the Lake Havasu City, Ariz.-based Havasu News reported.
Listing agent Jon Knudson said CNL Lifestyle Properties, the current owner of the courses, purchased a large portfolio of golf courses in 2014 and is selling some of the ones “they don’t deem strategic.” The Courses at London Bridge Golf Club, is one of them. Knudson said he is selling it as a continued golf operation, the News reported.
“I expect everything to stay very much the same as a 36-hole course,” Knudson said.
Knudson said the courses are being presented at a price based on their annual net revenue of a little more than $644,000 from operations. An estimated 70,000 rounds are played at the club’s two courses each year, representing a combination of several hundred annual memberships and the visitors from the tourism circuit, the News reported.
The first course, the Olde London course, was built in 1965 followed by the Nassau course in 1975. The combined courses are 221 acres and the 5,565-square-foot clubhouse includes a pro shop, restaurant, offices, storage space, locker rooms and kitchen, the News reported.
“You have two properties with fantastic vistas and the Olde course looks over Lake Havasu,” Knudson said. “They were the original ones out there and make a lot of money. This is an opportunity for someone to come in there, make some upgrades and keep it rolling.”
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