Hagley Golf and Country Club tees up sale to Midlands peer Lord Cobham
A new era for one of the area's top golfing venue swings into action today – after its sale to a Midlands peer was completed.
Hagley Golf and Country Club has been bought by Lord Cobham, the owner of neighbouring Hagley Hall.
The club, near Stourbridge, has been on sale for six months, with a deal finally done yesterday which will see Lord Cobham take the reins from the Garratt family, who have owned it since its inception in 1980.
It was put up for sale by the family following the death of the club's principal shareholder Michael Garratt last year.
The club was marketed for £2.25million and managing director Peter Garratt Johnson said the club has 'got its asking price' in what was 'quite a complex deal'.
He said he believes the new ownership will mean 'business as usual' for patrons and staff.
Mr Garratt Johnson said: "This has been in process for six months and we completed yesterday.
"Lord Cobham is behind it and it's going be very much business as usual – we're pretty pleased with how everything has gone.
"That is why the Garratt family is selling to him – he is going to very much keep it as it is with the same membership and business model.
"He spoke at the AGM and all the members were pretty pleased with what he said.
"The reason we picked him is he's local and he very much cares for Hagley. I've run it for 17 years and I'm going to go back to Australia now."
Lord Cobham was unavailable for comment yesterday but is expected to comment on the deal next week.
When it was put on the market, real estate agents flagged up the club's 'fantastic' offerings.
The club is set in 170 acres with picturesque views overlooking the Clent Hills.
It offers golf, driving range, corporate and social memberships.
The 6,376 yard 18-hole golf course is one of the most challenging in the area.
Real estate company Bilfinger GVA was appointed to find a buyer.
When it was initially put up for sale in August director Ben Allen said: "Hagley Golf and Country Club is a fantastic facility, one that has had the benefit of circa £600,000 capital investment in recent years.
"The whole property is presented to the highest of standards.
"The club has the air of a true members club, yet generates a strong operating profit, with turnover approaching £1.1m.
"With 571 golf members, over 7,000 golf range members and a strong social membership, Hagley Golf and Country Club is exceedingly popular."
