Estate Living Digital Publication Issue 6 June 2015 | Page 14

It must include a completely objective and
dispassionate view of the downstream postproperty sales phase needs of the golf facility,
because, if it is not, it can turn out to be recipe
for future disaster. History shows that, where
the relationship is not carefully structured and
managed realistically, the most likely outcome
will be one in which the golf course, due to
a lack of adequate funding, will become a
significant liability in the overall context of an
estate’s financial activities.
When an estate is being marketed and sold, the
golf course has to be seen as a core element of
the complete facility and must not be allowed
to be sheared off into a separate entity. The
sale of creative golf membership ‘vehicles’ in
the form of debentures and shares, etc. are
often nothing more than a cosmetic wrapping
that must not be allowed to conceal the real
downstream needs.

WHAT’S PUTTING

16

This approach will ensure that the golf
course is securely anchored at the core of
the development along with the roads, the
gardens and security fences. It will also ensure
that every property owner understands that
the value in his or her investment is inextricably
linked to the maintenance of ALL the facilities
that the estate offers and not just the ones that
he/she chooses to use personally.

‘Sustainability’ has become an increasingly
popular word and one where, in some
spheres, it is almost a ‘mantra’.

This issue is not limited to the golf course.
However, due to the size of its footprint, the
course’s share as a percentage of the overall
maintenance costs will stand out in any budget.
The golf course needs to be seen as an integral
part of the whole development (alongside
other recreational elements; i.e. boat clubs and
tennis facilities, etc.) and marketed to potential
buyers as such.

Sustainability

In terms of carbon issues and renewable
alternative energy, wind power has been
touted as the ‘great white hope’ for a better
and cleaner future. Even allowing for the vested
interests that invariably come into play in these
types of debates, opinion from various quarters
now suggests that wind power is simply not a
cost effective alternative to traditional sources
of energy.

Over the next few issues and in conjunction
with professionals from within the golf
and estate industry, we shall be looking at
‘sustainable business practices’ in golf. We will
be trying to determine what these mean in
real terms and how clubs and estates can cope
Buyers will then not be under any expectation with the increasing pressure to be sensitive to
that they can enjoy the view of the course or the the environment, apply sustainable businesses
green space it creates for walking themselves processes and remain viable as businesses.
or their dogs, or have a nice sundowner on the
deck of the boat club under the false premise John Cockayne
The Business of Golf
that it will ‘free of charge’.
Estate Living Golf Editor