Golf Business News – Crown Golf Unveils Plans to Build 3,000 Homes in UK Club Portfolio
Crown Golf has partnered with London fund manager Fairway Capital to redevelop the land around its golf course into more than 3,000 residential properties.
The joint venture will transform part of eight golf courses in Greater London, Southeast and south-west England, with nearly 1,000 affordable homes and several new community facilities.
Crown Golf’s golf club portfolio includes St. Melion, Pine Rich, Addington Court, Milford, South Winchester, Thornbury, Wickham Park, Batchworth Park and 9 Herts.
The overall plan for the development is to preserve Crown’s core golf action while unlocking plots of land in houses, schools, parks and even country halls. The investment was backed by Australian-owned Crown Golf parent company Bangarra Group.
Cornwall's flagship St. Melion Estate (a course designed by Jack Nicklaus) is dedicated to more than 200 homes and is built on land, which is a surplus in the resort's leisure needs.
“The Crown Golf portfolio is one of the largest in the UK and provides an important opportunity for value optimization through high-quality development and retained golf, leisure and environmental enhancement capabilities,” said George Brooksbank, CEO of Course Capital.
Campbell Fleming, chairman of Crown Golf, said: “The opportunity matters: One of the largest Crown Golf portfolios in the UK – can offer over 3,000 new homes, including at least 1,000 affordable units in major locations in Greater London, Family County and Southwest England.
“This initiative is an important early test case of Labor’s housing agenda. We are also committed to community-centric development. By integrating schools, parks and public facilities into larger locations, we aim to bring lasting value to local residents.
“The Gray Belt and Greenfield site provides faster and more viable alternatives to complex brownfield projects that help unlock housing delivery and long-term asset value.”
The reconstruction plan is expected to be phased in stages within six years. Crown Golf’s courses will continue to operate during the transition period.
