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Business News

Goldman tees off with £140m purchase of The Belfry golf resort

today07/10/2021

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The Wall Street investment bank Goldman Sachs is to become the new owner of The Belfry, one of the world’s best-known golfing resorts.

Sky News has learnt that a property fund run by Goldman has usurped the giant bond fund manager Pimco as the preferred bidder for the Warwickshire hotel and golf courses.

A source close to Goldman said on Thursday that the purchase price was expected to be in the region of £140m.

The sale will bring long-running efforts by the Belfry’s current owner, KSL Capital Partners, to offload the 550-acre site, which it bought in 2012.

England's Laurie Canter putting on the ninth green during day four of the ISPS HANDA UK Championship at The Belfry, Sutton Coldfield
Image: The Belfry is located outside Birmingham

Savills, the real estate advisory firm, has been working for KSL on the mandate for several months.

KSL conducted an auction of the asset in 2017 but opted against a sale.

The Belfry has hosted golf’s Ryder Cup on four occasions, the most recent of which was in 2002.

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It also recently hosted the Betfred British Masters tournament.

The origins of its main building date back to the 13th century, when it served as a manor of the Knights Templar.

Its recent history has also been colourful, having been owned until 2012 by Sean Quinn, the Irish former billionaire.

Goldman declined to comment.

 Sky News

© Sky News 2021

Written by: Rother Radio News


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