A property firm that is creating a number of adventure parks around the UK has bought the World of Golf driving range and adventure golf course in Croydon, Surrey for £500,000.
Holmes Investment Properties (HIP), which last year teamed up with leisure entrepreneur David Lloyd to build four £7 million, 60,000-square foot sites each year over the next five years, has purchased the south-east London facility, creating the company’s first open leisure venue.
Facilities at the Croydon-based site currently comprise a 24-bay, floodlit driving range, and an 18-hole dinosaur-themed adventure golf course. There is also an American Golf retail outlet on site. The site, which was owned by Ashtour Ltd, has been consistently profitable, delivering a six-figure profit in 2017.
Grant Wright (pictured above), managing director of Holmes Investment Properties Entertainment, said the site will be integrated into the company’s HIP Entertainment subsidiary. Speaking about the sale, Wright said: “I am very excited about this synergistic opportunity. This purchase allows HIP to merge its activities with Ashtour, bringing experience, expertise, cash flow and profit. The purchase of Ashtour brings HIP its first fully functioning leisure site and ensures the venue roll out schedule is on plan. We have ambitious plans for the site, and we aim to invest in an effort to boost revenue for future years.”