Thu, 12 May 2011 | BUSINESS SALE
An Isle of Man hotel and championship golf course is to be placed on the block after its tycoon owner had a £1 million judgement issued against him in the High Court.
The iconic Golf Links Hotel, with 50 letting rooms, has been closed since 2007, though players have still been able to use the 18-hole golf course at Castletown Golf Links.
The hotel’s owner Graham Ferguson-Lacey stepped down as executive chairman and director of the Sefton Group last year due to ill health.
Mr Ferguson-Lacey’s lawyer Jerry Carter recently said there is a lack of cash but that he hopes the sale of the leisure site goes ahead.
Estate agent David Creane of Cowley Groves said of the site: “It needs to be sold, it needs to be developed. Yes it will be sold and hopefully it will be sold sooner rather than later.”
“It’s an absolute shame that it hasn’t had the appropriate planning that would entice developers to purchase it at an appropriate price.”
The hotel and golf links have to be sold as a package, said Mr Creane. It has the potential to become a five-star upmarket hotel, with apartments and facilities for golf club members.
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