‘Excellent’ 125-year-old Nottinghamshire golf club with ‘beautiful’ course saved

A golf club dating back to the early 1900s has secured its future thanks to a sale. Newark Golf Club, on Sleaford Road in Coddington, has been saved after the club’s assets were sold to Stellar Asset Management, which owns several golf clubs and leisure resorts.

Earlier this year, the club’s directors realised that their funds were insufficient to make the necessary improvements to the 18-hole course and clubhouse, jeopardising the club’s continued existence without going bankrupt. After 20 weeks, the sale was completed on Tuesday 16 July and was led by Bob Maxwell and Robert Dymond of the Begbies Traynor Group.

This sale secured the historic golf club, founded in 1901, and saved 20 jobs. The deal will also provide a significant dividend for the more than 400 members.

Get the latest news straight to your phone by joining us on WhatsAPP

Bob Maxwell, head of Begbies Traynor’s Leeds-based Strategic Options team, said: “We are very proud of the outcome we have achieved, which has benefited all parties. The key aspect of this project that has enabled us to achieve such a positive outcome was the directors’ rapid recognition of the impending financial problems.”

“Because they approached us for advice at such an early stage, we were able to ensure that the club continued to operate while we looked for a solution that met members’ needs while allowing them to maintain control of the process.”

He continued: “The sale has not only secured the future of this historic golf club in the hands of an experienced new owner, but – uniquely – it has also benefited members as shareholders once creditors have been paid off. The jobs of the club’s 20-strong team are also secured.”

“This was a very unusual sale due to the dividend being paid to shareholders and was only made possible by the swift action of members and the committee before insolvency became inevitable.” Mr Maxwell added: “These are challenging times for many sports clubs of this type but by intervening early we can ensure a process that leaves the club in control of the sale process and ensures secure administration for the future.”

The golf club has a 4.5 out of 5 star rating on Google and dozens of positive reviews. One person described it as a “beautiful course” with “very well-maintained” greens.

They added: “The clubhouse and pros shop are brilliant and extremely helpful, the food is very good and excellent value for money. You have to give the place 100 per cent value for money and excellent customer service.”