ARCHIVED - Condado de Alhama golf course for sale rumour has some accuracy

Condado de Alhama group to be given first refusal to purchase “Signature” golf course

While the recent rumour circulating on social media and in the golfing fraternity that the Condado Golf Course was “on the market” it may only be a matter of time and depend on a sequence of events which have been set in motion.

The Jack Nicklaus designed “Alhama Signature” golf course has been enjoyed by golfers for some years even though the proposed Clubhouse and other facilities never materialised after constructor Polaris World got into financial difficulties over 10 years ago.

The course itself is quite long at 6,884 metres with 5 large lakes and 116 bunkers, and is appreciated by golfers of all abilities as part of the Condado de Alhama resort, situated within easy reach via motorway connections of Murcia city, Cartagena, Mazarrón beaches and Corvera airport.

Unfortunately, the owner GNK Golf are finding it difficult to make the course profitable and have indicated their intention to attempt to sell the course or – if that fails – to close it altogether, a conclusion that would be very sad particularly for those who own property on the resort. And it is from this avenue a knight in shining armour may emerge.

A group of homeowners have spoken to GNK Golf and have come to an agreement that they will be given a short period of time to put together a bid in order to save the course. This consortium has initiated the “A Fairway to Heaven” campaign aimed at securing capital through a shareholder arrangement with potential investors being offered the chance to commit to purchasing “shares” in the ownership of the course, each share being priced at €2,000. There is no limit to the amount of shares an individual can acquire and it is envisaged that 1,000 shares need to be pledged before meaningful negotiations can be opened with a view to completing that sale. Investors can be Condado homeowners, golfers or simply speculators.

The Fairway to Heaven group have carried out supporting research, having a visual survey of the course by a professional greenkeeper to assess the work that would need to be involved in bringing the course up to the required standard and ongoing maintenance, membership packages and costing structures have also been produced.

It is hoped that sufficient interest will be garnered to make the purchase viable, the cost of which may not be as excessive as would be expected in some respects when the lack of current facilities is factored in to the negotiations. The alternative could be that the course is offered on the open market where there are many other golf courses for sale in Spain to compete with and if a buyer is not found the course could sadly close.

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