Safeland (AIM: SAF) is pleased to announce that it has acquired North Downs Golf Club based in Woldingham, Surrey. North Downs is a well established 18 hole golf course with a 664 m2clubhouse together with a golf shop and reception.
The total consideration payable for this freehold property is £1.065 million in cash which will be funded from the Company’s existing cash resources.
Safeland intends to invest in developing the Club’s existing facilities and thereby enhance the Club’s appeal to both existing and new members.
Commenting on the transaction, Larry Lipman, Managing Director of Safeland, said: “This is a very well located leisure asset with significant potential to upgrade and improve upon the current infrastructure. We look forward to working with the North Downs management team to develop the Club’s potential.”