Spey course becomes US group’s first acquisition
Spey Bay golf course, clubhouse, and caravan park in the north of Scotland has been sold to US-based online golf community Links Golf Club in a deal valued at above the $900,000 (£724,000) asking price.
The course, on a part of the Moray coastline at the mouth of the River Spey, was designed by the legendary Ben Sayers and was opened in 1907.
The sale drew considerable interest and after winning the bid in March LinksDAO entered into an exclusivity agreement. The deal was scheduled to close last month.
LinksDAO is a global group of golf enthusiasts on a mission to build the “world’s greatest golf community”. Spey is their first course acquisition. Joint agents Shepherd Chartered Surveyors and Strutt & Parker handled the sale for Colin Murray Development.
Links has sought advice from several architects to remodel the course because it has “suffered from weather and erosion issues over recent decades,” head of strategy Adam Besvinick explained. “Improved maintenance will elevate this site significantly,” he added.
Neil Calder, partner in the Inverness office of Shepherd Chartered Surveyors, said: “There was an extremely competitive closing date and offers well over asking price were received. It is a rare opportunity to own a true links course in Scotland, the home of golf and we wish the new owners well in their venture.”
Euan MacCrimmon, director at Strutt & Parker, added: “The volume of enquiries for Spey Bay golf course was incredible, and we received enquiries and offers from a wide range of UK and international interests.”
Prime Minister Ramsay Macdonald was a member at Spey Bay and he presented the championship trophy which remains at the club.