NEW ENGLAND COUNTRY CLUB
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1 Multi-Housing Group NEW ENGLAND COUNTRY CLUB \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 80 PAINE STREET :: BELLINGHAM, MASSACHUSETTS INVESTMENT & DEVELOPMENT OPPORTUNITY AWARD WINNING GOLF COURSE WITH DEVELOPMENT OPPORTUNITY CBRE/New England Capital Markets Team has been retained as the Exclusive Agent for the sale of the New England Country Club and the associated land with development rights.
2 NEW ENGLAND COUNTRY CLUB \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ OVERVIEW Spread out over 40 acres of scenic rolling hills, the New England Country Club is one of the best designed and scenic public courses in the area. This enjoyable 8-hole championship golf course, designed by Hale Irwin and constructed in 87, has the look and feel of a private golf course. The rolling hills, tree lined fairways, and multiple tee boxes give each hole a unique character and provide a fair challenge for all ability levels. Breathtaking New England scenery is visible throughout the golf course, to create a truly unique and exceptional residential development. The course itself accounts for approximately 8 acres of the 40 acres leaving over acres of land available for development. The property has frontage on two major roads (Paine Street and Wrentham Road) with access to public water and sewer. The underlying zoning is an Agricultural A, which could permit up to 50 homes. However, the property had previously obtained approvals for 6 homes through prior zoning. Additional development could be possible based on a rezone to a higher density residential zone. In fact, conceptual plans had also been created showing up to 465 homes of various designs and concepts. The town is also currently below its 40B threshold which would afford prospective developers another permitting option. Located in the southwest quadrant of the I-4 beltway around Boston, the New England Country Club is located in one of the fastest growing areas in greater Boston. The property is located approximately 5 miles southwest of Boston, 0 miles north of Providence and approximately 0 miles southeast of Worcester. The adjoining communities of Bellingham, Franklin and Wrentham constitute over,000 households with an average household income of $06,6. According to Claritas projections, household growth in Bellingham is also projected to outpace the statewide household growth by 64%! GOLF COURSE New England Country Club opened for play in 87 and is situated on wooded, moderately sloping terrain, creating a challenge that rewards strategy over distance. The greens and fairways are fairly generous offering some relief, but at the same time, many are multi-tiered with generous interior contours, providing a tough challenge for players of all abilities.
3 ACCOLADES Voted One of the Best 8 - The Boston Globe Site of the N.E. Public Links Championship Site of the U.S. Amateur Qualifier Senior PGA Tour Qualifier Site Site of the NCAA Division II Regionals AMENITIES All Grass Driving Range Practice Bunkers Practice Putting Green Computerized GPS Yardage System on each Golf Cart Egan s Pub Grille Room & Patio 4,000 SF open-air, weather-proof Tent Facility for Banquets DEVELOPMENT The New England Country Club development allows for the unique opportunity to develop approximately +/- acres of land around the existing golf course or possibly re-design the course to nine holes and redevelop a larger portion of the property. The land is currently zoned for agricultural use, which does allow for residential development, with a minimum lot size of 80,000 square feet. Assuming current zoning requirements, the site could support approximately 50 single-family homes. The land is currently unpermitted but all utilities are readily accessible with ample capacity to water and sewer. Although currently unpermitted, the property had previously received approval for 6 homes under prior zone. There are also other permitting tools within the zoning code to do cluster development. In addition, the town indicated willingness to consider a re-zone to a masterplanned community. One small parcel,.7+/- acres is located in Woonsocket, Rhode Island. This piece of land is zoned R-, which is a low density single-family residential district with a minimum lot size of 0,000 square feet. The property enjoys frontage on two major town roads (Paine Street and Wrentham Road) that will facilitate the development of the site, allowing developers to create different neighborhoods of varying price points and reduce infrastructure requirements. SALES PROCESS & TIMELINE We are offering this unique investment opportunity for sale without an asking price. We will be conducting tours over the coming weeks with a call-for-offers to follow shortly thereafter. 0 CB Richard Ellis 0 CB Richard Ellis
4 GOLF COURSE DETAILS Golf Course: Designer: 8-hole championship, par 7, public golf course utilizing approximately 8 of the acres. Hale Irwin Yardage: Tee Length Rating/Slope Blue 6,48 70./5 Black 6,48 6.6/ White 5, /5 Red 4,7 68./ Clubhouse: Maintenance Building: Grass Type: Irrigation System: Carts and Equipment: Two-story building with a,00 +/- SF Pro Shop and offices located on the second floor and a,50 +/- SF Bar & Grille (Egan s Pub),,400 +/- SF function room, 600 SF kitchen, men s and women s bathrooms and locker rooms, boiler room and several storage rooms located on the first floor. There is also a 4,000 square foot tented facility for banquets and other large gatherings that can seat approximately 00 people. The maintenance building was built in 87 and is a metal building with approximately 4,800+/- SF of workspace. One quarter of the space is heated for winter mechanical work. There is also an office for the golf course superintendent in the building. There is also a shed used for dry storage for maintenance equipment. Greens and fairways are a bentgrass and Poa annual mix, while tees are a mix of bentgrass, Poa annual and rye grasses. Fully automatic, PSI/Flowtronex system with Toro OSMAC control system and a variety of Rainbird and Toro heads. All carts and equipment are leased. Water Source: The course is irrigated by Decelle s Pond located on the property, and supplemented by a 70-foot gravel packed well which produces 6,000 gallons per day. Practice Facilities: There is an all-grass driving range, practice bunkers and practice green areas. Membership: The golf course currently has a limited number of memberships but most revenue comes from daily fee rounds. Management: The course is currently self-managed by the ownership
5 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ DEVELOPMENT COMPONENT Homes: Not currently permitted but could support up to 50 homes under current zoning or more with special permit or zoning change. Was permitted for 6 homes under a previously approved plan. Site Area: 40 acres total with approximately 0 acres available for residential development around existing golf course Infrastructure: The infrastructure includes all necessary utilities already available on-site or in the street, including ample water and sewer. Project Overview: There is ample land to support residential development built around and among the existing 8-hole golf course, using the available +/- acres of land. Due to the history of the site and previous development plans, the property could support numerous development scenarios. The property has multiple access points along major town roads that will facilitate the development of different neighborhoods. 0 CB Richard Ellis
6 4 Major Employers N FRANKLIN 4 Draka Cableteq USA Wrentham Outlets BARNEYS NEW YORK ACCESS POINT 4 NEW ENGLAND COUNTRY CLUB Wrentham Rd Ashburnham Dracut Dunstable Pepperell Athol Gardner Templeton Philipston Fitchburg Lunenburg Westford Shirley Billerica Littleton Paine St Leominster Hubbardston ACCESS POINTS Boxborough Lancaster Acton Bolton Stow 4 Rutland Hudson Berlin W. Boylston Oakham New Braintree Paxton Wayland Marlborough Leicester Brookfield 46 NEW ENGLAND COUNTRY CLUBMendon Southbridge Dudley Webster Douglas Uxbridge Franklin N. Smithfield Cumberland 46 Smithfield Chaplin N. Providence N. Attleboro Sterling Bridgewater Scituate Seekonk 4 Rehoboth Dighton Berkeley Lakeville Freetown 4 Wareham Bristol Fall River 40 JOHN MCLAUGHLIN Executive Vice President/Partner Vice President Financial Analyst Westport john.mclaughlin@cbre-ne.com Tiverton kevin.murphy@cbre-ne.com Bozrah Exeter Preston KEVIN MURPHY Acushnet New Bedford Dartmouth Portsmouth N. Kingston Norwich Jamestown Holden biria.stjohn@cbre-ne.com Voluntown Griswold 4 Rochester Warren W. Warwick E. Greenwich Plymouth Carver Warwick W. Greenwich Middleborough 40 Barrington Coventry Plympton 4 Taunton E. Providence Cranston Kingston Raynham BIRIA ST. JOHN Sprague Duxbury Executive Vice President/Partner Lebanon simon.butler@cbre-ne.com Pembroke E. Bridgewater S IMON BUTLER Franklin Colchester Plainfield W. Bridgewater Norton Providence Canterbury Marshfield Whitman Hanson Central Falls For more information, please contact: Windham Scotland Abington Rockland Hanover Brockton Swansea Columbia Norwell 4 Pawtucket Foster Brooklyn Hampton Sharon Attleboro Pomfret 6 Mansfield Scituate Weymouth Mansfield Putnam Coventry Randolph Halifax Burrillville Gloucester Eastford Cohasset Braintree Canton Easton Plainville Lincoln Ashford Quincy Holbrook 4 84 Willington Foxborough Wrentham Tolland Milton Stoughton Avon Woonsocket Thompson Woodstock Hull Walpole Blackstone Union Stafford Dorchester Hingham Norwood Norfolk Bellingham 84 Millville Holland Medway le da pe Ho Monson Milford Northbridge Sturbridge Winthrop Westwood Medfield Sutton Oxford Charlestown E. Boston Hyde Park Dedham Dover Millis Everett Chelsea Mattapan Upton Charlton Brimfield West Roxbury Nahant Revere Roxbury Roslindale Holliston 4 Millbury 8 Needham Sherborn Grafton Auburn Natick Ashland Hopkinton Palmer Wales Westborough Warren Marblehead Swampscot Malden Jamaica Plain Wellesley Lynn Boston Brighton Framingham Southborough Spencer Melrose Allston Weston Manchester Beverly Peabody Saugus Medford So m Waltham Belmont erv Ca i m bri lle dg Watertown e Newton Northborough Worcester Shrewsbury N. Brookfield W. Brookfield Winchester Arlington Sudbury Boylston Lexington 8 Lincoln Gloucester 8 8 Woburn Bedford Maynard 8 Wakefield Hill Rd Salem Diamond Concord Sterling Ware Burlington Princeton Barre Danvers Lynnfield Reading Carlisle Essex Wenham N. Reading Wilmington Harvard Petersham Hardwick Ayer Westminster Hamilton Middleton Chelmsford 4 Rockport Topsfield Tewksbury Groton Ipswich Andover Lowell Orange New Salem Rowley Boxford N. Andover Tyngsborough Sto ne ha m Townsend Br oo kli ne Ashby Winchendon Georgetown Lawrence Royalston Warwick Methuen Pelham 0 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Marion Bourne Sandwich JOHN KELLY Vice Fairhaven Ba President -Debt & Equity john.kelly@cbre-ne.com 6 Mashpee Falmouth
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