The Richmond Golf Club in London has secured its future after purchasing the freehold of its site from the Crown Estate.
The club, which celebrates its 125th anniversary this year, financed the deal through loan notes from 300 of its 500 members.
As a result of the sale, the members’ club now owns their attractive par-70 course in Sudbrook Park, which is alongside Richmond Park, and their clubhouse, Grade I-listed Sudbrook House.
David Hill, chairman of the club during the negotiations said: “When some clubs are closing, selling land or changing the rights of their members, we are delighted that the future of our club is now even more secure. Under the new arrangements, all members will continue to hold an equal stake, regardless of their contribution to the financing of the acquisition.
“Potential new members should not be put off,” he added, “as they will be welcome to, but will not be expected or compelled to, participate in the loan note scheme.“
Despite the sale of the freehold the club will retain its royal links, as the Duke of York is the club patron, a position previously held by the Queen Mother. Her husband, George VI, had been a member of the club and, when Duke of York, had been club captain in 1924.
Princess Alexandra attended one of the club’s 125th anniversary celebrations on Founders Day in February this year, where she unveiled two paintings of the clubhouse by renowned artist Ken Howard. Other events in the anniversary calendar include a black-tie dinner at the House of Commons, which is being hosted by Richmond MP Zac Goldsmith later this month.