Purdis Heath golf club facing a very bright future after cash windfall
- Credit: Archant
Ipswich Golf Club has received a financial boost after agreeing a pre-tax settlement of £1.4 million with property developers.
The funds emanate from a 10-year-old deal struck with one of the UK’s largest residential developers, Taylor Wimpey, which will see residential properties constructed on land adjacent to the club’s entrance and 18th green.
The money being paid to the club stems from an agreement, which sees the club entitled to receive additional cash following the completion and sale of residential properties.
It is a fantastic windfall for the Purdis Heath club.
Neill Ellice, Ipswich Golf Club General Manager, said: “This is a tremendous deal for the club and our members as it significantly strengthens our finances and will enable us to carefully consider a number of projects, which now become seriously viable.
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“The agreement has also allowed for a protective buffer strip to run alongside the 18th green, ensuring there is no danger to the properties.”
Ipswich Golf Club has recently completed the first stage of a major renovation that will see all of the bunkers on the highly-regarded Purdis Heath Course, restored to their original state.
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“This cash injection has put us in a far more comfortable position allowing us to continue with our investment programme including projects such as the bunker renovation,” added Ellice.
Ipswich Golf Club was recently one of the biggest movers in the prestigious Golf World Top 100 Golf Courses in England rankings, moving up six places to 61, and is bucking the national trend, which is seeing golf club membership numbers dwindling.
Club president, Colin Firmin, added: “For many years the policy at Ipswich Golf Club has been to invest in its courses and facilities and prudent management by successive committees has ensured that we are in a strong position at a time when the industry is going through a rather difficult time generally.
“With a full membership and a sound financial position we will be able to continue to invest.”
For further information on Ipswich Golf Club visit www.ipswichgolfclub.com.