A high profile luxury golf resort and spa has gone on the market, for a reported asking price of more than £20m.
Formby Hall, located between Southport and Liverpool, is seeking a new owner to continue to drive the hotel’s success after posting its ‘best year yet’ of results for the last financial year.
Its last accounts, covering the 12 months to March 31 last year, show the company made a pre-tax profit of almost £293,000 – up from almost £177,000 in the previous year.
Current owner, Merseyside property developer Maghull Group, has not disclosed the exact asking price but the venue’s last set of accounts shows a turnover of more than £7.1m.
Formby Hall is part of a collection of 12 of the finest golf courses in Britain and is surrounded by 183 acres of parkland. Home to 62 bedrooms, the four-star luxury gold and spa resort also boasts multiple restaurants and bars – L37 Restaurant and cocktail bar lounge plus a 19th Hole bar and spa bistro – which all help contribute to the hotel’s trading figures.
The resort is well known for hosting a number of high profile events in its history at its Formby Hall Golf Club, including the European Challenge Tour.
Paul Collins, executive director, CBRE Hotels comments: “Formby Hall Golf Resort & Spa an exceptionally highly regarded resort with strong commercial appeal and the potential for considerable growth, particularly if the development opportunities are exploited. The resort is being sold unencumbered and offers a purchaser the potential to either partner with an international brand/operator or continue trading successfully as an independent resort.”