Formby Hall Golf Club and Spa has been sold in a multi million pound deal
Multi-million pound deal completed after Maghull Developments put site up for sale last May.
The resort was put on the market in May 2015, by Merseyside property developer Maghull Group and now Formby Hall Golf Club & Spa has now been acquired by CS Hotels and is set for a major refurbishment.
The club and spa was put up for sale with a multi-million pounce price tag, however new investors, CS Hotels, which Formby Hall general manager Andrew Pyle says is leading the investment team behind the deal, has declined to reveal the purchase price.
The iconic part of the Formby landscape is set in 183 acres of parkland, the hotel offers 62 luxury bedrooms and claims to combine the “individuality of a boutique hotel with the facilities of a four-star luxury spa and golf resort”.
CS Hotels say they are committed to investing significantly in the resort to ensure it remains the pre-eminent golf and spa resort in the North West.
The existing management team says it has a shared vision with the new investors as to how the property can be enhanced to improve the experience of members, guest and staff, alike.
Mr Pyle said: “The resort management team are committed to delivering a seamless transition for our employees, members, guests and suppliers.
“The whole team are very excited about the proposed future plans for the resort which initially include a refurbishment of the existing guest rooms, enhancements to the spa, The 19th Hole Bar, L37 Restaurant and both event rooms.”
He added: “Works are due to commence shortly and this phase is due to be completed by the end of spring 2016.
“Further future developments will be announced in due course.”
Formby Hall’s last set of accounts showed a turnover of more than £7.1m, and a pre-tax profit of almost £293,000, up from almost £177,000 the previous year.
Speaking at the time, Maghull Group chief executive Mike Hanlon said: “At one level this has been a difficult, emotional decision, but at another level, it is commercially logical and attractive to the business moving forward.
“This will enable us to focus on new exciting projects we have in the pipeline, such as Allerton Golf Course where we are hoping to emulate the success story we have enjoyed at Formby Hall.”
Allerton’s running was transferred to the Maghull Group by the city council 14 months ago in a 25-year lease deal.