Confidential Advice Line: 0800 063 9221

Ballumbie Golf Course is Sold


Ballumbie Golf Course is Sold

Located on the outskirts of Dundee, Ballumbie Golf Course has been sold to a subsidiary of Knowe Properties Limited, a substantial Scottish-based property investment company.

Joint administrators Paul Dounis and Ken Pattullo of Begbies Traynor today confirmed the sale of the 18 hole golf course, with driving range and club house, which opened last year. Previously owned by Glacierlight Limited, Ballumbie Golf Course was placed into administration on 28 January 2011, but has continued trading and will still be managed by the leaseholders, Rebel Golf Courses.

In order to recover funds owed to creditors, the administrators sought a buyer for the 18-hole 127 acre course and its clubhouse facilities, and were approached by the purchaser who ultimately acquired title to the course and properties via a newly established company for an undisclosed sum.

Paul Dounis of Begbies Traynor said: “We can confirm that we have concluded the sale of the club in a relatively short period of time and we are happy that the existing employees of Rebel Golf Courses, who remain the tenants and will continue to operate the club going forward, will keep their jobs.

“The membership had grown quickly since its opening, and the business shows a great deal of promise with reduced debts and stable funding behind it.”


About the author

Ken Pattullo

Regional Managing Partner

Meet our Team of Experts

Ken joined the Glasgow office of Begbies Traynor in 2003, before overseeing the firm's expansion into further offices in Edinburgh, Dundee, Aberdeen and Belfast. He previously worked at KPMG, Ernst & Young and PricewaterhouseCoopers in Scotland. He has a broad range of experience in Corporate Rescue and Recovery, as well as in turnaround and restructuring, corporate and personal insolvency, investigations and IBRs.

Specialisms: Licensed trade, haulage, property investment/development, construction, agriculture engineering/manufacturing.

44 Regional UK Offices

Find your local Begbies Traynor office and speak to an adviser today.

Find your Local Office
0800 063 9221

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0800 464 0871

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0161 837 1700

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
Businesses Remain Resilient in the face of Brexit
Financial distress falls 6% following referendum
ONS data: 'Brexit has had no major effect on the UK economy thus far'
Read More →
 
Open Banking to Reshape the Alternative Finance Sector
CMA mandates the adoption of Open Banking by early 2018
Will see alternative lenders competing on a level playing field with dominant banks
Read more →
 
Join thousands of professionals by signing up for our updates
Analysis and Opinion from our Partners
Top Industry News
Register Now →
 

Advice you can trust

We are accredited by the following industry leading organisations

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland

Contact the Begbies Traynor team

or Find your Nearest Office
Processing...