German giant to buy golf course in Kingdom
ONE of the country's top golf clubs is in the final stages of closing the sale of one of its three championship courses to a German crane manufacturing giant for an estimated €6.5m, writes John O'Mahoney.
Talks are understood to be at an advanced stage between Killarney Golf and Fishing Club and a major employer in the Co Kerry town, the Liebherr firm, over the potential sale of the Lackabane course.
Killarney Golf Club general manager, Maurice O'Meara, confirmed yesterday that negotiations were ongoing and that a sale and lease back deal was being explored.
"That's all I can say at the moment," Mr O'Meara said.
Killarney Golf and Fishing Club, which hosted the Irish Open in 2010 and 2011, reported at this year's annual general meeting that its financial performance fell well short of target in 2011 with a trading deficit of over €232,000.
Lackabane is the newest of the club's three courses and was designed by architect and former Open golfer Donald Steel for its official opening in 2000.
Lakes and streams are a feature of the par 72 parkland venue and at 6,410m off the back tees, it is considered a real test for long game golfers.