Traditional Golf Properties has listed for sale Royal New Kent Golf Club and the Brickshire Golf Club, both in Providence Forge, Va., and the Golf Club at Stonehouse in Toano, Va., for an undisclosed asking price. River Run Golf Club and River Run Golf Club Community in Berlin, Md., are both also on the market, and can be purchased separately.
A portfolio of golf courses between Richmond, Va., and Williamsburg, Va., is on the market, Richmond (Va.) BizSense reported.
Traditional Golf Properties has listed for sale Royal New Kent Golf Club and the Brickshire Golf Club, both in Providence Forge, Va., and the Golf Club at Stonehouse in Toano, Va. The semi-private clubs hit the market last week for an undisclosed asking price, BizSense reported.
The properties are being marketed together as a threesome, but the seller also is willing to sell them individually, said Hilda Allen, whose brokerage firm Hilda W. Allen Real Estate has the listings.
Paul Mauk, president of Traditional Golf, said the listings were prompted by two factors. “It’s partly just due to the length of ownership and partly to refocus in other markets where we have a larger presence,” Mauk said.
The company has owned Royal New Kent and Stonehouse since 2001. It paid $5 million for each course that year, according to county real estate records. It has owned Brickshire since 2010, paying $425,000 for the course, BizSense reported.
The company aims to focus more on its courses in other markets, particularly in Charlotte and Raleigh, Mauk said. Half of Traditional’s 18 courses are around those two regions, BizSense reported.
“That’s really where we want to be able to focus our time,” Mauk said.
Brickshire and Royal New Kent abut one another while Stonehouse sits about 20 minutes east from there. “This is a very good opportunity for somebody to own and control a market,” Allen said.
King Carter Golf Club in Irvington, Va., is also up for sale. The course has been owned for several years by Union Bank & Trust, which took the property back from a borrower. In addition to the golf course, the listing includes 91 finished lots and extra developable land, BizSense reported.
Should the Traditional courses find a buyer, it would be the first local golf course sale since The Crossings in Henrico County was sold to a local buyer last summer for $1.75 million. At least two other local courses have been fielding offers in recent months. River’s Bend and Royal Virginian both had been under contract to a buyer, but the status of the deals could not be confirmed by press time, BizSense reported.
River Run Golf Club and River Run Golf Club Community in Berlin, Md., are both also on the market, though they can be purchased separately.
The 18-hole championship golf course is a Signature Gary Player Design that has received numerous accolades for the quality of the routing and course conditioning. The club features a 7,500-sq. ft. clubhouse with Players Club Restaurant, well-stocked golf shop, and locker rooms. Other amenities include golf cart storage facility and maintenance buildings.
The River Run Golf Club Community includes 122 approved lots, comprised of 56 single family home sites and 66 townhome sites with a sales center. In addition to the River Run Golf Club, community amenities include a swimming pools and tennis courts.
“The acquisition of the River Run Golf Club Community provides a new developer / builder the opportunity to take advantage of existing infrastructure and amenity package,” said Robert Waldron, Investment Advisor for the Leisure Investment Properties Group. The opportunity to acquire an established well-respected golf course asset like River Run Golf Club rarely comes along. The golf course provides a fun and interesting challenge to golfers of all ability levels.”
Tell Us What You Think!
You must be logged in to post a comment.