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

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

Earlier this year, the club’s directors admitted that its funds were not sufficient to undertake the necessary improvements to the 18-hole course and clubhouse, which threatened its ability to continue without becoming insolvent. After 20 weeks, the sale was completed on Tuesday 16 July and was led by Bob Maxwell and Robert Dymond of Begbies Traynor Group.

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

Get the latest news straight to your phone, join us on WhatsApp

Bob Maxwell, who leads the Strategic Options team in Leeds for Begbies Traynor, said: “We are very proud of the result we have achieved, which benefits all parties. The key aspect of this project that allowed us to deliver such a positive result. was the executives’ quick recognition of impending financial problems.

“Because they came to 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 the needs of members and also allowed them to retain control on process.”

He continued: “By completing a sale we have not only been able to secure the future of this historic golf club in the hands of a new experienced owner, but uniquely there will be a return to the members as shareholders once the lenders have were reimbursed. It also secured the jobs of the 20-strong team at the club.

“This was a very unusual sale due to the payment of a dividend to shareholders and was only possible because the members and the committee took swift action before an insolvency became inevitable.” Mr Maxwell added: “This is a difficult time for many sports clubs of this type, but with early intervention, we can ensure a process that keeps the club in control of the sale process and ensures safe stewardship for the future.”

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

They added: “The clubhouse and pro shop are brilliant and extremely helpful, the food is really good and great value, must give the place 100% value for money and great customer service.”