While the current listing is unpriced, the Meadow Vista, Calif. property sold three years ago for nearly $9 million. The listing includes the clubhouse, golf course and facilities, and 87 residential home sites—15 ready to build on and the rest unimproved.
Winchester Country Club in Meadow Vista, Calif. could have its third owner in a decade, the Sacramento Business Journal reported. The property, which fell into foreclosure during the Great Recession, has a new listing by commercial real estate brokerage CBRE.
“Over the past three years, the owners have worked to chart a future for Winchester that builds on and showcases the attributes of this exceptional community such as significant improvements to the golf facilities and its management that has driven expanded and membership to the club, and the development and sale of several distinctive one-of-a-kind single-family homes,” said Liz Goldman, Chief Operating Officer at owners Jennings Holdings LLC, in an e-mail. “Recent changes to the owners’ business and personal circumstances has led them to make the decision to dissolve their partnership and initiate the sale of its Winchester properties.”
Goldman told the Business Journal the listing will include the clubhouse, golf course and facilities, and 87 residential home sites, 15 ready to build on and the rest unimproved. Though they could also be sold separately, the owners will also entertain offers for both the clubhouse/golf course portion and the home lots, which total about 410 acres.
Three years ago, Jennings acquired the property for nearly $9 million, though that sales transaction didn’t appear to include all the unbuilt land, the Business Journal reported. Goldman said the current listing is unpriced.
The 2018 sale showed about 35 finished lots, suggesting PCS has sold 20 in the years since it acquired them. It’s not clear how much, if any, of the unimproved land may have sold since then, the Business Journal reported. PCS is one of the companies under Jennings Holdings.
The market for the property should be good, Goldman said. “According to the specialized CBRE brokers marketing Winchester, residential and golf are two industries that have excelled during the pandemic,” she said.
“Winchester Country Club and its associated residential land is a perfect investment opportunity, and we think the market will react very positively,” she added.
With a slope rating of 145, Winchester Country Club has the Sacramento area’s toughest golf course, according to Business Journal research.
Though the circumstances are different, Winchester isn’t the only golf course/clubhouse in the foothills near Sacramento for sale, the Business Journal reported. About 10 miles to the west, north of Auburn, Auburn Valley Golf & Event Center is listed for sale after owners filed for bankruptcy earlier this year.
That property, 175 acres with just a couple of structures, is for sale by Kidder Mathews as part of the bankruptcy proceeding, for $2.5 million, the Business Journal reported.