The future of a troubled golf course has been settled, with administrators confirming that a buyer has been found.
Ballumbie Castle Golf Club was sold to Edinburgh investors Knowe Properties after the company that had managed the venue went into administration this year. The deal, for an undisclosed sum, was made public on Tuesday and includes Ballumbie’s clubhouse and driving range.
All jobs are expected to be safeguarded as a result of the purchase with the current leaseholders, Rebel Golf Courses, set to continue under the new owners.
Paul Dounis, of administrators Begbies Traynor, said, “We can confirm that we have concluded the sale of the club in a relatively short period of time and we are happy that the existing employees of Rebel Golf Courses, who remain tenants and will continue to operate the club going forward, will keep their jobs.
“The membership had grown quickly since its opening, and the business shows a great deal of promise with reduced debts and stable funding behind it.”
Opened in 2000, the 127-acre site has hundreds of members and visitors. Although the future of the course was never said to be under threat, previous owner Steve Harrod did write a letter to members late last year to reassure them that Ballumbie Castle Golf Club had a future.
That letter was prompted by the placing of Ballumbie Golf Course Ltd the trading company that previously rented the course from the family company of Mr Harrod into administration after running up debts of over £77,000.
In the letter, Mr Harrod explained that the company had been victim of fairly hostile business conditions in the previous two years but stated, “Ballumbie Castle Golf Club is in no way threatened and will remain unaffected by all of this.”
Now, the new owners have told The Courier they are optimistic about the club’s future and hope to end a tumultuous period in its short history.
A Knowe Properties spokesman insisted no jobs will be lost and that previous plans to expand the course and facilities will press ahead.
Asked if the future for Ballumbie was bright, he told The Courier, “Absolutely. Obviously there will be no change with the people who work here as they are employed by Rebel and they are renting the course back (from Knowe).
“We’re thinking of building a championship course and building a small nine-hole course as well a bit like an academy.”
He added, “We have to make the club as good as possible and attract more members because that is good for the club.”
Ballumbie Castle continued to trade despite the demise of its previous trading company. Ballumbie Golf Course Ltd was wound up in January following a petition by HM Revenue and Customs.