Howard Kennedy guides The Club Company on complex refinancing
Law firm Howard Kennedy has advised long-standing client The Club Company on a complex £37 million refinancing.
The Club Company owns and operates 13 country clubs across the UK that combines a traditional golf environment with state-of-the-art health and fitness facilities, together with five hotels.
Howard Kennedy advised The Club Company on the refinancing of 10 country club properties that comprise spas, golf courses and hotels, including the preparation of reports on title and addressing the many conditions and complexities in the suite of lending documents. The refinancing completed on 27 July 2017.
This refinance deal was particularly complex due to multinational aspects of the outgoing lender and the unusual arrangements with land used for golf. We needed to review not only property documentation, but also other arrangements that are in place with local authorities and The Forestry Commission, together other statutory bodies.
In May this year, Howard Kennedy advised The Club Company on its purchase of the Witney Lakes Resort, an 18-hole Lakeland-styled golf course with leisure facilities and planning permission for an 86-bedroom hotel on the edge of the Cotswolds, and in November 2016 on the acquisition of 350-acre Woodbury Park resort in Exeter.
About Howard Kennedy
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors.
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