News: New investor chips in at Rotherham golf club
Rotherham Council has approved the signing of a new lease for a former municipal golf course in the borough, and is set to get back over £250,000 in rent and business rates.
Grange Park Golf Club at Kimberworth was laid out in the 1970's on former coal workings where the freehold ownership passed to the Council. The course and clubhouse was let to Grange Park Golf Club Limited in 2005.
The leases have both expired with the tenant having the right to renewal.
A report to Rotherham Council explains: "Grange Park Golf Club Limited has accrued have [sic] significant arrears of rent and business rates totalling more than £250,000 and it is unlikely these monies will be recoverable from the existing business / tenant. Jacob’s collection agency is engaged to manage / recover the rent arrears.
"The leases to Grange Park Golf Club Limited have both expired and the company is holding over in occupation pursuant to those leases. The company has a right to renewal leases and entered into negotiation with the Council as it was unwilling to grant a renewal lease or leases without the arrears being settled."
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With the Council holding out for the money, the company has approached the Council and advised that it has secured an investor to invest in the business.
The report adds that: "This investment will see a significant refurbishment and upgrade to the current facilities. They have provided details of the proposed investment and a programme of when they propose to carry out the works.
"Part of the investment proposal is that all historic / legacy rent and other arrears are cleared in return for the grant of a single new lease on the site to the investor’s company, Top Play Limited."
Top Play shares directors with Pocket Sports Bars Ltd and other Eyre family businesses.
The only other option that the Council considered was to take back the property and put it on the market. This was discounted due to the sums involved in bringing it up to standard, no rent arrears being recovered and no guarantee of a new tenant being found.
Recommended reading: Unveiling the Potential of Rotherham Investment Opportunities
The agreement for the new lease is on the basis that the historic debts are settled at the point the new lease terms are agreed, failure to do so and the lease will not be agreed.
Grange Park Golf Club website
Images: Grange Park Golf Club / Facebook
Grange Park Golf Club at Kimberworth was laid out in the 1970's on former coal workings where the freehold ownership passed to the Council. The course and clubhouse was let to Grange Park Golf Club Limited in 2005.
The leases have both expired with the tenant having the right to renewal.
A report to Rotherham Council explains: "Grange Park Golf Club Limited has accrued have [sic] significant arrears of rent and business rates totalling more than £250,000 and it is unlikely these monies will be recoverable from the existing business / tenant. Jacob’s collection agency is engaged to manage / recover the rent arrears.
"The leases to Grange Park Golf Club Limited have both expired and the company is holding over in occupation pursuant to those leases. The company has a right to renewal leases and entered into negotiation with the Council as it was unwilling to grant a renewal lease or leases without the arrears being settled."
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With the Council holding out for the money, the company has approached the Council and advised that it has secured an investor to invest in the business.
The report adds that: "This investment will see a significant refurbishment and upgrade to the current facilities. They have provided details of the proposed investment and a programme of when they propose to carry out the works.
"Part of the investment proposal is that all historic / legacy rent and other arrears are cleared in return for the grant of a single new lease on the site to the investor’s company, Top Play Limited."
Top Play shares directors with Pocket Sports Bars Ltd and other Eyre family businesses.
The only other option that the Council considered was to take back the property and put it on the market. This was discounted due to the sums involved in bringing it up to standard, no rent arrears being recovered and no guarantee of a new tenant being found.
Recommended reading: Unveiling the Potential of Rotherham Investment Opportunities
The agreement for the new lease is on the basis that the historic debts are settled at the point the new lease terms are agreed, failure to do so and the lease will not be agreed.
Grange Park Golf Club website
Images: Grange Park Golf Club / Facebook
1 comments:
They have not granted a new lease and the council have still not received the £250,000 plus in rent and rates arrears the old lease ran out in 2019 how many Rotherham residents wish they could get away with not paying rent and rates for 5 years, as for the new investment you only have to go down to the grange to see there has been none, its a joke how long the council will let this go on.
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