Published: 2nd February 2015
Dartmoor’s historic Wrangaton Golf Club is to be put up for sale after entering liquidation.
Ian Walker, partner at Begbies Traynor in Exeter, was appointed liquidator of Wrangaton (South Devon) Golf Club Ltd on Thursday, January 29, through Real Business Rescue, part of Begbies Traynor Group.
Agents, ES Group, anticipate that the club, which was formed in 1895, will go on the market for around £500,000.
Mr Walker said: “Following our appointment, formal marketing will begin with a view to finding a new owner of the club. We’re pleased to say that several interested parties have already come forward and I am confident that a buyer as a going concern will be found.
“The club would make an ideal retirement or lifestyle change business, perhaps for someone looking to move to this beautiful part of the world. There is competition from other clubs in the area but I am confident that with the right business plan, this site has the potential to be very successful, with a very supportive membership.”
Formerly an unincorporated members’ club, Wrangaton Golf Club was incorporated in 2013, due to a growing difficulty in finding members who were able to act as trustees.
The club is expected to remain open until at least the end of February during the marketing period. It is also hoped that any purchaser will honour existing memberships, most of which expire at the end of March.
One member of staff has been made redundant.
Ian joined Begbies in 2000 from Pannell Kerr Forster after practicing insolvency for the previous 20 years with Big Four firms. A member of R3 and a Fellow of the Institute of Chartered Accountants in England & Wales (from which he also takes his Insolvency Licence, he is currently a member of the ICAEW Investigation Committee. Over the years, Ian has dealt with all types of insolvency and at least three recessions. Currently, his practice based in Exeter and Plymouth covers the whole of Devon & Cornwall (including the Scilly Isles), together with as much of Somerset and Dorset as he can get away with! He deals with all types of personal and corporate insolvency and also concentrates on pre- and post-lending review work for all the major lending institutions.