Goldman Sachs Poised For £140m Purchase of The Belfry Golf Resort
Main Photo: The Belfry, home to the Ryder Cup in years gone by
Date: October 2021
Name: The Belfry
Location: Sutton Coldfield, Close to Birmingham, England, UK
Number of Keys: 324
Seller: KSL Capital Partners…The De Vere Group, which owned and operated The Belfry before it sold it to the Quinn Group in 2005 for a reported £186m
Buyer: Goldman Sachs
The Wall Street investment bank Goldman Sachs is to become the new owner of The Belfry, one of the world’s best-known golfing resorts. The fund run by Goldman has usurped the giant bond fund manager Pimco as the preferred bidder for the Warwickshire hotel and golf courses.
A source close to Goldman said on Thursday that the purchase price was expected to be in the region of £140m. The sale will bring long-running efforts by the Belfry’s current owner, KSL Capital Partners, to offload the 550-acre site, which it bought in 2012.
Savills, the real estate advisory firm, has been working for KSL on the mandate for several months. KSL conducted an auction of the asset in 2017 but opted against a sale. The Belfry has hosted golf’s Ryder Cup on four occasions, the most recent of which was in 2002. It also recently hosted the Betfred British Masters tournament.
The origins of its main building date back to the 13th century, when it served as a manor of the Knights Templar.
Price: £140m
Price per Key: £432,099 – to include three, rather good 18-hole golf courses and conference facilities for 400+ people
THPT Comment: Values clearly have changed both because of Covid and for other reasons, when looking at the price this hotel changed hands in 2005 and 16 years later
First Seen: Sky News
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