North Augusta CC to be auctioned

[Joel_Stewart]

Saw this today, will be auctioned lated this month.  Will be interesting to see how much they get.

http://www.jpking.com/index.asp?aid=2751&p=2751


A rare opportunity to purchase an active golf course in one of the golf industry's most sought after areas.

With a rolling terrain, towering pine trees, and natural lakes and creeks throughout, the scenic course is a shot maker’s paradise. The course was renovated in 2005 and new tee boxes were constructed.

Founded in 1962, the club has remained the only full service country club in North Augusta offering members a unique golf experience with a pro shop, junior Olympic swimming facility, and restaurant.

With golf enthusiasts annually flocking to nearby Augusta National Golf Club, the close proximity allows North Augusta Golf and Country Club to host visitors and cater special events during the Masters Golf Tournament.

Approved plans and all preparatory site work has been completed for the construction of a new state-of-the-art clubhouse facility. Zoned to multi-family use, the property has also been pre-approved for the construction of 18 residential villas.

The lakes throughout provide irrigation to the entire golf course.

The name, logo, and marketing materials for North Augusta Golf and Country Club will be available for new purchaser(s).

[jeffwarne]

Don't know the story but........

The Clubhouse (which hasn't been built-was supposed to open last spring) looks like a beast in the model.
The words "state of the art", "spa", and "world class", and get this-"day care" are promised.!
Of course the course was recently renovated.
I guess everybody in North Augusta was going to pay for all this with home equity loans

I think I can guess the rest of the story.


Nice enough course-I haven't played it in probably 10-15 years.
Understand this is one of many courses in the Aiken/Augusta area(there are at least 15-25 courses) and well down the pecking order.
 (North Augusta is in South Carolina not Georgia BTW)

Interestingly Ken Whisenhunt (AZ Cards Head Coach from Augusta) got involved last year. (I guess he's one of the sellers now)
I played baseball growing up with him and my wife grew up across the street from him-nice guy-my guess is his hands are full with football.


Hopefully, the next owner won't have to build all the amenities promised.
Interesting what happens when simple, presumably  successful CC's decide to "upgrade"

[Sam Maryland]

Jeff,

I think you hit the nail on the head...

..."upgrade"...

...a coffin nail.

[Mark Pritchett]

I grew up and still live in Augusta and I rarely hear anything about this course-good or bad.  I am not even sure I could find it. 

[BCrosby]

I'm with Mark. A course that has done a very good job of staying under the radar, and I'm in Augusta fairly often.

I hope this doesn't foretell what will happen at Athens CC. They recently decided to take on a load of new debt for "improvements". I don't know what is nuttier - their determination to take on substantial additional debt in this environment or a bank's willingness to lend them the money.

Bob

[Joel_Stewart]

The course failed to sell at auction.  The news reports doesn't say if the bids where too low or if any bids actually came in?   I believe the owner had a $1.5 million goal.

[Mike_Young]

FYI- this course is being auctioned by the owner not a bank or financial institution......