GOLF CLUB DE L A VAUCOULEURS

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Dana Miles
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1 GOLF CLUB DE L A VAUCOULEURS CIVRY LA FORET FRANCE

with extensive function facilities Authorisation for up to 100 bedrooms Quality revenue Voted the

2 GOLF CLUB DE L A VAUCOULEURS CIVRY LA FORET FRANCE A SUPERB 36 HOLE VENUE, 60 KMS TO THE WEST OF PARIS WITH ZONING FOR A HOTEL 36 holes of golf designed by Michel Gayon Substantial clubhouse with extensive function facilities Authorisation for up to 100 bedrooms Quality revenue Voted the 35th best golf complex in France in 2001 For Sale Freehold as a going concern 92 hectares (227 acres)

LOCATION The property is located about 60 Kms due west from Paris and is reached by the A13 autoroute.

CIVRY LA FORET GOLF CLUB DE L A VAUCOULEURS OPPORTUNITY The current owners have created a superb venue for both the club golfer and corporate user.

France has a well developed tourist market and is the most visited country in the world with 6.5 million tourists per annum.

3 LOCATION The property is located about 60 Kms due west from Paris and is reached by the A13 autoroute. Golf Club de la Vaucouleurs is situated on the edge of Civry La Foret in Ile de France. CIVRY LA FORET GOLF CLUB DE L A VAUCOULEURS OPPORTUNITY The current owners have created a superb venue for both the club golfer and corporate user. The combination of the two courses, which are very different in design, ensures that the venue can accommodate all types of player. France has a well developed tourist market and is the most visited country in the world with 6.5 million tourists per annum. Golf de la Vaucouleurs is well positioned and has the necessary facilities to take advantage of the golf market in Europe. The club has numerous visitors from the UK who come both from the Paris region and the well known North West golfing coast which is home to venues such as Belle-Dune and Le Touquet. NOT TO SCALE. FOR IDENTIFICATION PURPOSES ONLY

THE GOLF COURSES The two courses are very different in nature.

La Riviere extends to 6,138 metres, par 73 and is more of a parkland course with the river coming into play on a number of holes.

The greens and tees have been traditionally constructed and the water is abstracted from the river. The complex was founded in 1986 and is now maturing well. There is parking for 180 cars.

4 THE GOLF COURSES The two courses are very different in nature. Les Vallons which extends to 5,638 metres, par 70 has been classified in the top 25 courses in France and has a distinct links feel to it. La Riviere extends to 6,138 metres, par 73 and is more of a parkland course with the river coming into play on a number of holes. Both the courses have four tee positions and all of the tees and greens on both courses are irrigated using a computerised system. The greens and tees have been traditionally constructed and the water is abstracted from the river. The complex was founded in 1986 and is now maturing well. There is parking for 180 cars. THE BUILDINGS COMPLEX The buildings are attractively arranged in a courtyard with a practice putting green in the middle. The principle facilities include: BUILDING 1 A traditionally constructed storage building extending to approximately 250 square metres on one floor. BUILDING 2 This is a traditionally constructed building comprising a large restaurant and bar area on the ground floor and an extensive function room on the first floor. The restaurant can seat 80 covers and the function facility can seat 300 covers. This building extends to approximately 1,000 square metres on two floors. BUILDING 3 A traditionally constructed building incorporating the offices, male and female changing rooms, the caddie master and pro shop. BUILDING 4 Again a traditional building housing the machinery for both the golf courses.

DEVELOPMENT OPPORTUNITY There is authorisation for a 100 bedroom hotel.

The principal area of expansion would be to extend out to the south west of the existing complex.

METHOD OF SALE It is the preference of the owners to sell the entire issued share capital of the two companies known

5 DEVELOPMENT OPPORTUNITY There is authorisation for a 100 bedroom hotel. The owners have decided to retire and leave this final phase of the development to a new owner. The principal area of expansion would be to extend out to the south west of the existing complex. Plans are available from Chesterton HMH. METHOD OF SALE It is the preference of the owners to sell the entire issued share capital of the two companies known as SCP Civry and SA Golf de la Vaucouleurs. The business will be included fully fitted and equipped and for sale as a going concern. The stock in trade is to be taken over by the purchaser at valuation on completion of the sale. NOT TO SCALE. FOR IDENTIFICATION PURPOSES ONLY

THE OPERATION The club is run on a propriety basis inviting memberships and visitors alike. There are 394 members at the club of various categories and the total membership income is 480,000 Euro s.

All aspects of the business are run in hand. The club employs up to eight green keepers in the summer (ten in the winter), seven in the clubhouse and eight in administration.

The estimated figures to the end of 2003 show an improved turnover of 1.82 million Euro s and an EBITD* of 61,000 Euro s in the S.A. and 12,400 Euro s in the SCP.

6 THE OPERATION The club is run on a propriety basis inviting memberships and visitors alike. There are 394 members at the club of various categories and the total membership income is 480,000 Euro s. Approximately 35,000 rounds of golf are played on the two courses in any one year of which 12,000 are green fees. Green fees are currently 40 Euro s on weekdays and 65 Euro s at weekends. All aspects of the business are run in hand. The club employs up to eight green keepers in the summer (ten in the winter), seven in the clubhouse and eight in administration. The total payroll is 562,000 Euro s. The club attracts 150 societies per year, 10 weddings and 15 Functions. THE BUSINESS The turnover to the 31st December 2002 was 1.72 million Euro s. The estimated figures to the end of 2003 show an improved turnover of 1.82 million Euro s and an EBITD* of 61,000 Euro s in the S.A. and 12,400 Euro s in the SCP. *Earnings Before Interest Tax and Depreciation The business is thriving and there is scope to increase the roundage of the two courses. In addition the hotel development will enhance the throughput of the complex. For detailed accounts please call the consultants, Chesterton HMH. CONTACT For further information please contact Tom Marriott Telephone +44 (0) Mobile +44 (0) tem@chestertonhmh.com. You can also view the sales details of the property on our web site The complex has an excellent web site IMPORTANT NOTICE This information memorandum has been prepared by Chesterton HMH based on information provided by the current owners. It is being made available for the sole purpose of assisting prospective purchasers in deciding whether to purchase the property. Chesterton HMH assumes no responsibility for the accuracy or completeness of this memorandum or the information contained within it. Accordingly, no statements or information within this memorandum shall constitute a warranty or representation of any description (whether expressed, constructive or implied). Please note that the photographs depicted within this brochure were taken during the last 10 years. However, there may be some changes to the complex which have taken place since then which are not shown in this brochure. Any purchaser must rely solely on their own investigations. Printed in England April 2004.

Bona Fide Design - 01603 301600 International property specialists for golf and leisure businesses 54 Brook Street

8 Bona Fide Design International property specialists for golf and leisure businesses 54 Brook Street London W1A 2BU Tel: +44 (0) Fax: +44 (0) info@chestertonhmh.com

HAZLEMERE GOLF CLUB HIGH WYCOMBE, BUCKINGHAMSHIRE

HAZLEMERE GOLF CLUB HIGH WYCOMBE, BUCKINGHAMSHIRE OUTRIGHT DISPOSAL or SALE & LEASEBACK considered HAZLEMERE GOLF CLUB HAZLEMERE, HIGH WYCOMBE, BUCKINGHAMSHIRE, HP15 7LR Junction 4 M40; approximately