18-hole Championship course, 9-hole heritage course valued at more than $4 million

If you’ve ever dreamed of owning a golf course, the Salmon Arm Golf Course Society has an opportunity for you.

On Monday, April 29, it was announced the 18-hole championship golf course with nine-hole heritage course would be going up for sale.

The Salmon Arm Golf Course Society (SAGCS) made the decision to put the approximately 90-year-old course, with an estimated value of more than $4 million, on the market. Their decision to sell the course is based on a number of factors, key being the recognition that “a volunteer-driven non-profit society was no longer easily sustainable given the continued downward trend in membership and current demographics.”

“SAGC has been an incorporated non-profit society since 1983, owned and operated by Society Certificate Holders, and governed by an elected volunteer Board of Directors,” states SAGCS in an April 29 news release. “The original premise for the golf course was a member-driven and funded golf course and green fee play was a supplement.

“The golf course industry as a whole has suffered since the 2008/2009 economic down turn, and this, coupled with other factors such as golf course overbuilding, aging demographics (and) lack of leisure time has caused SAGCS to transition from a member driven business model, to one with an emphasis on public play.”

The society says they approached the City of Salmon Arm to see if there was any interest in taking over the golf course but the city declined.

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“The numerous visitors from across Canada, the U.S. and internationally, who come to play on our renowned golf course are drivers of large tourism dollars for our area and the golf course is a drawing card for people looking to move to a new community,” states the release.

Sale of the golf course will be based on criteria that is being developed by the society. New ownership will be sought that will include taking over the debt and investment in the infrastructure. Liabilities for the course are estimated around $2 million.

“The Club has always managed to meet its debt obligations regularly,” states the release.

While the course is for sale, The Salmon Arm Golf Club remains open for business.

“The early opening on April 19 with great course conditions bodes well for that and it is business as usual with no interruption to services to the members or public while the sale process takes place.”

@SalmonArm

newsroom@saobserver.net

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