0835 Leisure Summer 08_aw.indd - HLL Humberts Leisure

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Focus | The golf marketPar for the courseHLL Humberts Leisure’s activity in the golf market continuesapace demonstrating the strength of the sector despite the currentgeneral economic uncertainty.The golf market is driven by three main categories of purchaser – lifestyle buyers/newentrants to the sector; regional operators (who own several courses in a geographicalarea) and corporate operators with a national presence. Ben Allen BSc(Hons) MRICS, whoheads the HLL’s Golf Agency team, recently spoke to representatives from each categoryto gauge their insight into the sector and their thoughts on the coming months. Here, intheir own words, is the reaction.For further insight in to the golf sector; to register your interest in acquiring or sellinga golf business; or for professional valuation advice please contact a member of ourspecialist team.ContactBen Allen BSc(Hons) MRICS, Winchester e: ben.allen@humberts-leisure.com t: +44 (0)1962 835 960Martin Brister FRICS, Winchester e: martin.brister@humberts-leisure.com t: +44 (0)1962 835 960Paul Barnes BSc(Hons) MRICS, Winchester e: paul.barnes@humberts-leisure.com t: +44 (0)1962 835 960Tim Smith BSc(Hons) MRICS, London e: tim.smith@humberts-leisure.com t: +44 (0)20 7629 6700National operator: Burhill Golf & Leisure LtdJames Bracey, Property and Development Manager for Burhill Golf & Leisure Ltd.What attracts Burhill to golf?Burhill Golf & Leisure is one of the leading national golf course owners and operatorswith 10 golf sites across the UK. The company, which is owned privately by members ofthe Guinness family, has been in golf for just over 100 years. Around this time the mainhouse on the Burhill Estate, Walton on Thames, Surrey, was converted into a golf clubhouseand the adjoining buildings were converted into complimentary leisure facilities for thegolf members. The club appealed to the new Surrey resident seeking a better quality ofenvironment within the London commuter belt.Today Burhill Golf Club remains the group’s flagship venueand one of the best known and commerciallysuccessful golf clubs in the UK.Our golf business took off in the 1980s when Burhill Golf & Leisure Ltd moved intoaffordable non-commitment golf, establishing Hoebridge Golf Centre, near Woking, againin Surrey. Unlike Burhill Golf Club, Hoebridge is a public golf centre and its success as oneof the busiest pay-and-play courses in the South East proved to be the foundation forfurther expansion into this sector. The group now boasts seven pay-and-play golf centreswith driving ranges; and three golf clubs. Aldwickbury Golf Club and Redbourn Golf Club,both in Hertfordshire, were acquired in 2006.Golf was seen as a more commercially viable land use to that of agriculture, acceptable interms of planning and a solution to extracting longer term value. Today we are pursuingcomplimentary leisure uses at a number of the sites; however, this is not without localplanning challenges.16 Summer 2008
Focus | The golf marketBurhill Golf ClubThe group also has other property interests including: commercial,residential and marine related facilities at Bosham Harbour inWest Sussex.What are the key features of a golf coursethat make it a success?Burhill Golf & Leisure has a good understanding yield managementin the property and leisure industries. So whether it is moorings,tenants or tee times on a golf course, we apply the sameprinciples in all of our businesses to optimise profitability.In golf, we manage tee times very carefully and have been verysuccessful in improving utilisation at our courses. We havemanaged to maintain yields in a challenging and oversuppliedmarket place. This has been achieved through quality, service andvalue of product although every general manager is always toldthere is room for improvement.Like any industry we have to consider revenue streams outside ofthat of our core golf trade. We have developed successful drivingranges, which are floodlit and so can be used during the eveningsafter dark, excellent food and beverage operations, golf retail,award winning health and fitness centres at Birchwood Park GolfCentre in Kent and Hoebridge Golf Centre, plus accommodationat Thornbury Golf Centre, Bristol. We are looking at furtheraccommodation opportunities at other centres, too.We have also worked successfully with third parties, such as localauthorities, as we do at Wycombe Heights GC and Abbey Hill GCin Milton Keynes. We want to attract other owners to us, and notjust in golf – but also in other leisure areas such as hotels. We arekeen to grow through acquisition or partnership.Birchwood Park Golf CentreWhat is the future for the sector?I don’t think there is any doubt that we are going to see somecasualties in the golf sector in the near future. There are a lot ofgolf course operations out there in precarious financial situations.I think it is fair to say that the downturn in the economic situationwill be challenging; however, this could create opportunities.Our golf centres offer the right combination of quality, serviceand value to make them popular with consumers and highlyprofitable. In areas where there is competition, we will certainlychallenge and strive to set market standards.This should enable us to pursue our objectives to expand thegroup in the UK and possibly abroad.The next couple of years will be a tough time for the golf sector,but we are optimistic that our businesses will continue to thrive.www.burhillgolfandleisure.co.ukwww.humberts-leisure.comHLL Humberts Leisure 17
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0835 Leisure Summer 08_aw.indd - HLL Humberts Leisure

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