Thursday 27 October 2016

Open hero's club to consider €100m buyout offer

Published 22/07/2015 | 02:30

British Open amateur hero Paul Dunne
British Open amateur hero Paul Dunne
Paul Dunne

The golf club which spawned the sporting talents of Paul Dunne will consider a €100m buyout offer from a property company once a formal offer is made.

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If the multi-million euro deal goes ahead, Greystones Golf Club will move to a new site, possibly near Delgany, in Co Wicklow. The property company is interested in buying up the buildings and substantial area of green space currently owned by the club. A Greystones club spokesman told the Irish Independent the offer is still at a very early stage of consideration.

However, he confirmed a "feasibility study" of the takeover has been carried out.

"No meetings have taken place just yet," he added.

Meanwhile, lady captain, Jeanne Thorpe, said a "firm offer" has yet to be made.

"Of course if one is received we'll put it to the members for consideration. But so far there's been no formal or informal indication as to what the offer might be. We received a letter in which the company expressed an interest - but we haven't heard anything back from them since. They can't go looking at what we have here without our consent and permission...which obviously we'll give them when they formally ask for it."

It is understood a possible purchase deal would be in the region of €100m, and the proposal would allow the company to purchase the club's 127-acre town centre location, incorporating a Georgian manor house, on the Burnaby estate. Greystones Golf Club is in a prime urban setting, and provides obvious opportunities for housing, and office development. The course includes land fronting a Tesco shopping centre, and it also borders a major housing estate, close to the town's main street.

Nearby residents include former Anglo Irish Bank chairman Sean FitzPatrick, former Chief Justice John Murray, and ex-Irish rugby manager Paul McNaughton.

Irish Independent

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