Croydon Council has placed Coulsdon Manor Hotel and Golf Club up for sale due to the local authoritys financial crisis.
The council effectively declared itself bankrupt last year, owing debts of about 1.5 billion, and it has now announced that it hopes to sell off various assets, including the golf club, to bring in millions of pounds in income.
The highly regarded 18-hole golf club was leased out by the Labour-run council with around 19,000 rent a year paid to it. It has been owned by the council since the 1930s, and leased since 1999.
The current tenant, Bespoke Hotels, has already reportedly purchased the freehold.
The cash-strapped councils fire sale continues, with a former primary school, garages, a scout hut and a hotel and golf…
Read the full article at: https://www.thegolfbusiness.co.uk/2021/07/council-to-sell-golf-course-following-bankruptcy-notice/
