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Howard Riefs

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George Peper's TOC flat for sale
« on: July 21, 2012, 10:12:08 AM »


From the "play one course the rest of your life" thread...

Quote from: Jim Colton on July 18, 2012, 11:41:35 PM
Convince George Peper to sell me his flat and play out my days trying to unlock TOC

That was easy.

http://www.golfdigest.com/golf-tours-news/blogs/local-knowledge/2012/07/a-slice-of-golf-history.html

9A Gibson Place

Purchased in 1983:
£43,000
($65,000)


Selling:
£1.5 million
($2.35 million)

"Full resident ticket" to play all 7 courses:
$270/year (not a typo)


Seems perfect for a GCA time share!
« Last Edit: July 21, 2012, 10:14:24 AM by Howard Riefs »
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"Golf combines two favorite American pastimes: Taking long walks and hitting things with a stick."  ~P.J. O'Rourke

Tiger_Bernhardt

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #1 on: July 21, 2012, 01:05:10 PM »
Nice return on investment
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Wayne_Kozun

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #2 on: July 21, 2012, 01:35:34 PM »
That's an 11% geometric return, ignoring the money he spent on renos and what he received in rent in the years that he rented it out.
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Mark_Rowlinson

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #3 on: July 21, 2012, 02:38:51 PM »
I think the GCA time share is a brilliant idea. Count me in. Even if you don't qualify for resident membership, just the idea of a foothold in St A's is so attractive. 
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Michael Whitaker

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #4 on: July 21, 2012, 03:40:54 PM »
I'm in for a timeshare.
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"Solving the paradox of proportionality is the heart of golf architecture."  - Tom Doak (11/20/05)

Pete_Pittock

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #5 on: July 21, 2012, 10:22:08 PM »
We should have done this in 1983. ;)
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PThomas

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #6 on: July 21, 2012, 10:27:14 PM »
if I win the Powerball .......................... :-\
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199 played, only Augusta National left to play!

Wayne_Kozun

  • Karma: +0/-0
Re: George Peper's TOC flat for sale
« Reply #7 on: July 21, 2012, 10:29:45 PM »
And we can add this to the 2.5 million pound estate at the northern tip of Scotland that comes with a Braid golf course
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Duncan Cheslett

  • Karma: +0/-0
Re: George Peper's TOC flat for sale New
« Reply #8 on: July 21, 2012, 11:03:44 PM »
Quote from: Pete_Pittock on July 21, 2012, 10:22:08 PM
We should have done this in 1983. ;)

Exactly.

It is difficult to see how residential property can possibly give anything like these returns over the next 30 years. I suspect that his decision to sell now is very wise. The property bubble has yet to burst in the UK...
« Last Edit: July 21, 2012, 11:07:16 PM by Duncan Cheslett »
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