M u c h w o o d L a n e , B o d s e y , R a m s e y P E 2 6 2 X Qw w w . o l d n e n e g o l f c l u b . c o . u k

O L D N E N E G O L F C L U B

O n t h e i n s t r u c t i o n s o f I a n C a r r & P a u l A d d i s o n

P r o p o s e d j o i n t a d m i n i s t r a t o r s o f O l d N e n e G o l f C l u b

n Freehold 33 hectares (82 acres)

n 4 bedroom bungalow

n 3 holiday lodges planning for additional 28

n 9 hole golf course

n Driving range

n Clubhouse

n Storage barn

n Opportunity for other leisure/agricultural uses (subject to any necessary planning consents)

Background and OpportunityOld Nene Golf Club was opened in 1992 and has developed into a popular and established 9 hole golf course, with clubhouse, driving range and fitness suite. In 2004 planning permission was granted for 31 holiday lodges and to date 3 lodges and 4 further bases have been developed. There is the opportunity to continue the lodge development for either sale or holiday lettings in the pretty setting of the golf course, which includes attractive water features, a river and wooded areas. The property includes a 4 bedroom bungalow and ancillary storage buildings. There is planning for 31 lodges in total.

Alternatively the property offers scope for a range of other leisure/amenity uses, grazing parkland or could be returned to agricultural use.

LocationThe Old Nene Golf Club is located in the open countryside about 1 mile to the North of Ramsey. Ramsey is an attractive market town and the larger conurbation of Peterborough is an 11 mile drive to the north-west, with Huntingdon a 12.5 miles drive to the south-west. Road communications to the course are good with the property being a 12 mile drive from junction 15 of the A1M.

The River Nene runs through the property and there is an inland marina within 200 metres of the property. The surrounding land use is farmland. Nearby attractions include the Flag Fen Bronze Age Centre, Peterborough Museum and the Nene Valley Steam Railway.

Cambridge

DownhamMarket

CambridgeA1(M)

A1

A605

A605

A47

Wisbech

Ramsey

DownhamMarket

Ely

Ramsey Rural Museum

O L D N E N E G O L F C L U B

PeterboroughPeterborough

16

15

17

Flag Fen Bronze Age CentreMuseum

Nene Valley Railway

DescriptionThe property extends to approximately 33 hectares (82 acres) and comprises:

9 Hole Golf Course

The 9 hole golf course was established in 1992. The course measures a maximum 5,578 yards par 68 from the white tees when played twice. Intermediate (yellow) tees are at 5,427 yards and ladies (red) tees 5,255 yards par 70. The course comprises 3 par 3s, 4 par 4s and 1 par 5 holes.

We are advised that the greens and tees are of sand based construction with irrigation laid to greens. The course layout takes advantage of its riverside location, with water coming into play on 5 holes.

Clubhouse

The clubhouse is a single storey temporary structure with a flat felt roof and set on a concrete plinth. The accommodation comprises a café / bar area, kitchen, store rooms, toilets and changing rooms. Adjacent to the club house is a gravel parking area for approximately 50 cars.

Storage Barn / Greenkeepers Building

A former agricultural building of breeze block and steel frame construction under a corrugated pitched roof is used as an equipment store for golf course maintenance equipment.

Pro Shop

The pro shop is a single storey brick building under a pitched corrugated roof situated close to the clubhouse. The accommodation comprises a ground floor trading area.

Driving Range & Gym

The floodlit driving range is of timber construction with pitched felt roof and timber elevations. The range comprises a total of 13 bays and a small gym. Eight bays are currently in use, with an additional five bays currently used for storage. The small gym is located at the centre of the range and comprises a single room offering a range of cardiovascular and resistance machinery.

Lodges

To date one fully fitted two bedroom lodge has been constructed on the property, with a further two lodges constructed to shell stage. A further 4 concrete lodge bases have been constructed. Services have yet to be laid.

Bungalow

The bungalow is constructed of brick elevations under a pitched tiled roof. The accommodation comprises:

n Four bedrooms (2 x double 2 x single)

n Living room

n Kitchen

n Bathroom

The bungalow is set in its own grounds away from the clubhouse.

RatingThe property is assessed for rating purposes as follows:

Address Description Rateable value

Old Nene Golf And Country Club, Muchwood Lane, Ramsey, Huntingdon, Cambs, PE26 2XH

Golf Course and Premises

£27,750

Huntingdon District Council’s records do not appear to show a separate Council Tax listing for the bungalow, although Lodge 1 is listed as Band B.

Tenure & PossessionThe property is freehold. All aspects of the business are currently operated in hand. We are advised that vacant possession of the property will be available on completion of the sale.

ServicesMains electricity and water are connected to the property. Drainage is to a Klargetser on the site. The bungalow benefits from oil fired heating.

PlanningPlanning permission was originally granted (ref 8801159 OUT) in 1988 for the use of the land as a golf course, leisure centre and country club.

In 2004 planning permission (ref 030299FUL) was gained for a replacement clubhouse and the erection of 31 holiday lodges. The development of the lodges has commenced and therefore the permission has been implemented. The holiday lodges can be used as holiday accommodation only.

The property is covered by Huntingdon District Council.

The BusinessThe business opened in 1992 and operates as a proprietary golf and holiday lodge business. The business continues to trade as a golf course but it is likely that the business will have to enter an insolvency process as part of any sale. Ian Carr and Paul Addison of Grant Thornton UK LLP are proposed as administrators and are advising the management of the golf club and the bank in respect of any sale.

Trading History

Management accounts for the business for the period November 2009 to October 2010 show that the business achieved the following turnover during this 12 month period

Income £

Sales Membership 47,587.83

Bar and Food 34,599.45

Driving range 7,249.19

Green Fees 40,141.59

Rent 3,000.00

Sundries 6,030.24

Total Income 138,608.30

During this period the business operated at a small loss. Further financial information will be made available to seriously interested parties.

Membership

The subscription for the current membership year (including VAT and EGU fees) are:

7 day £525

5 day £406

Senior £485

Junior £72

The Club had approximately 150 members as at September 2012.

Green Fees & Range Fees.

The green fees for the current season are:

Mon-Fri 9 holes

Sat-Sun 9 holes

Mon-Fri 18 holes

Sat-Sun 18 holes

Adult £10 £13 £15 £20

Member’s guest £8 £10 £12 £15

Senior £10 £13 £15 £20

Junior £8 £10 £12 £15

The driving range is priced at £4 for 100 balls.

Energy Performance Certificate

Copies of the EPC for the bungalow and recommendation reports will be available to interested parties as part of the Further Information Pack that has been prepared for the property.

MAP

Golf Course Maintenance Equipment

The property includes an inventory of golf course maintenance equipment, the great majority of which is owned outright and is included in the sale.

Premises Licence

The property previously had the benefit of a Premises Licence, which we understand expired in September 2012.

Agricultural Land Classification.

The land is classified as a mix of Grade 1 and 2 on the DEFRA Land Classification map. The soil is shown on the Soil Survey of England and Wales as belonging to the Adventurers’ 1, Downholland 1 and Evesham 3 Soil Associations. The property has road frontage onto Muchwood Lane and extensive frontage onto the River Nene (in part both banks). We are verbally advised by Huntingdon District Council that no occupation restriction exists for the bungalow.

Staff

The business currently employs 2 full time green keepers and 3 part time staff. It is understood that TUPE will apply to the sale of the property / the business.

CambridgeCambridge

Peterborough

Kings Lynn

Northampton

Ramsey

Corby Doddington

Spalding

DownhamMarket

MarketDeeping

Huntingdon

Alconbury

Cambridge

Northampton

Peterborough

Ramsey

M11

A1(M)

A14

A14

A16

A1

A6

A14

A10

A47

A47

A47A141

A141

A142

A142A141

A605

A14

Corby

Wisbech

Doddington

Spalding

DownhamMarket

Melton Mowbray

MarketDeeping

Huntingdon

Alconbury

Ely

Kings Lynn

O L D N E N E G O L F C L U B

5117

Important Notice

GVA is a trading name of GVA Grimley Limited. Conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property for whom they act, are:

(i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract.

(ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them.

(iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property.

(iv) all rentals and prices are quoted exclusive of VAT

Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only.

These particulars were produced in October 2012.

Basis of DisposalOffers in the region of £725,000 are invited for the freehold interest in Old Nene Golf Club.

Stocks are to be taken over by the Purchaser at valuation on completion of the sale.

WebsiteFor a further insight into Old Nene Golf Club visit: www.oldnenegolfclub.co.uk

Further Information and Viewing For further information on Old Nene Golf and Country Club or to arrange an inspection of the property, please contact Joint Sole Agents:

Alan Faulkner MSc MRICST: 01945 428 824M: 07824 637 637E: afaulkner@maxeygrounds.co.uk

Charlie Mason BA (Hons) MSc MRICST: 020 7911 2488M: 07825 312622E: charlie.mason@gva.co.uk