The property comprises an existing 18-hole golf course and leisure club which the Company has operated since 2000. In the meantime detailed planning consent has been obtained for the construction of a 100-room hotel, expansion of the existing clubhouse and amendments to the course. The expanded property will address demand from visitors for the range of world-renowned golf courses in the area by providing a convenient touring base with on-site golfing and leisure club facilities. It is intended that expanded conference facilities will also be promoted to business users and as a wedding venue.
The course, club-house, restaurant, leisure club and pool will be shared by hotel guests thereby increasing the turnover and profitability of these existing facilities.
British Open Champion Paul Lawrie OBE has redesigned some of the course to further enhance the golfing experience.
Scotland - The Golf Coast Bond
- 8% per annum until April 2019.
- Minimum subscription: £15,000
- Secured Series 1 Bonds due 5th April 2019
- Issued by Golf Coast plc
Minimum Subscription: £15,000 and then in increments of £1,000.
Interest: 8% per annum paid quarterly, payments are paid April, July, October, January.
Repayment Date: The principal of each Bond will be repayable on 5th April 2019.
Security: Payment obligations to Bondholders are secured by a fixed and floating charge over the Company’s assets.
The charge therefore covers the Company’s existing holdings (including Whitekirk Golf & Country Club), and interests in future projects whether held directly by the Company or through one or more majority-owned subsidiaries.
Whitekirk Leisure Club and Golf Course, Whitekirk, North Berwick, East Lothian EH39 5PR is situated 26 miles east of Edinburgh on Scotland’s Golf Coast.
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