Thu, 19 Jun 2014 | COMMERCIAL PROPERTY
The famous Fairmont golf resort has been put up for sale with a price tag of more than £30 million.
The 502-acre site includes two golf courses as well as the illustrious St Andrews hotel and spa. It has been put on the commercial property market with CBRE Hotels by Ares Management, a New York-listed real estate and private equity firm, The Times reported this week.
The property, which originally went under the moniker, was built in 2001 by Don Panoz, an entrepreneur who is best known for developing the nicotine patch during his time working at Elan Corporation. He spent £56 million developing the resort before selling it on to Apollo Real Estate Advisors in 2006.
Apollo placed the management of the resort in the hands of Fairmont Hotels, the company which also operates the Savoy Hotel in London.
The news about the impending sale of the resort, which could reach a price of £35 million, follows the announcement that Donald Trump had bought the Turnberry Resort, on the Scottish west coast, for £35.7 million.
He has vowed to spend up to $200 million “bringing the hotel to the highest standards of luxury”.
Otherwise known as ‘the home of golf’, St Andrews has hosted The Open Championship, one of golf's four major tournaments, in its prestigious history.
This well-established facilities management business in London, specialising in cleaning, maintenance, and security services, offers a unique opportunity with multi-year service agreements ensuring predictable recurring income. This opportunity prese...
This thriving value added meat company, prominently featured in major retailers like Tesco and Sainsbury's, boasts impressive growth with sales projected to more than double by 2026. The business has shown remarkable growth and we are poised to incre...
This London-based health and beauty dropshipping store presents a remarkable opportunity with its fully responsive website, a strong emphasis on eco-friendly products, and a mission to protect bees, setting it apart in the market. The sale of the bus...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.