Golf course properties don’t go up for auction all that often, so if you’re looking to get in the game, an opportunity may be waiting in Colorado.
The Spring Valley Golf Club in Elizabeth, Colorado, is going up for auction Tuesday, Nov. 19, according to businessden.com. The course is located about 40 miles southeast of downtown Denver.
The 18-hole, par-72, 7,200-yard (from the tips) course opened in 1998. The land was previously a working cattle ranch. The 240-acre property includes the course, a restaurant, a maintenance facility and a pro shop as well as two adjacent vacant parcels of land.
The businessden.com story reports that the Haynes Family LTD sold the property in 2003 for $3.8 million, then re-acquired it in 2010.
So, if you have $10,000 to put down as a deposit and you’re good with the bidding starting at $900,000, this might be a play for you. The winning bidder needs to provide 10% of the total purchase price within 24 hours and close the deal within 30 days.
Two representatives of the NavPoint Real Estate Group in Castle Rock told TV station Channel 7 News in Denver that the course will remain an 18-hole golf course. There was concern among residents that the land would be sold to home developers.
Elizabeth has a population of about 1,400 people but is expected to see significant growth soon. Reportedly 80% of the residents commute to work in Denver or Colorado Springs, each about an hour away.
Spring Valley Golf Club is about 22 miles east of Castle Pines Golf Club, which hosted a PGA Tour event from 1986 to 2006.
