Goldman Sachs buys The Belfry

Famous golf course and hotel resort The Belfry has been sold.

Goldman Sachs Asset Management and Cedar Capital Partners have teamed up to buy the site near Sutton Coldfield from KSL Capital Partners in an undisclosed deal.

The Belfry has three 18-hole golf courses and has hosted the Ryder Cup four times – more than any other venue.

The resort also comprises 320 hotel rooms, five restaurants, a spa and other leisure amenities spread across 550 acres.

The new owners said they were planning to carry out upgrade work to the site but have not revealed any further details as yet.

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KSL Capital Partners had previously outlined several regeneration plans including a new indoor pool, water park and more hotel rooms on the site of the Bel Air nightclub but so far these have not come to fruition.

Nabil Aquedim, executive director of real estate at Goldman Sachs Asset Management, said: “We are delighted to be partnering with Cedar for this acquisition of a renowned hotel and golf resort which we plan to renovate and extend over the coming years.

“This investment aligns with our strategy of purchasing high-quality assets that are well positioned to benefit from post-covid hospitality and leisure trends.

“We look forward to working with Cedar and the hotel’s management team to build on the Belfry’s strong reputation as a golf resort and enhance the leisure offering.”

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Phil Golding, partner at Cedar Capital, added: “We look forward to working with the hotel’s management team to build on the Belfry’s storied history and, alongside our partners at Goldman Sachs, we are proud to be the next custodians of this iconic resort.”

Raphael Bihler, vice-president at KSL Capital Partners, said: “We are very proud to have owned the resort for almost ten years, during which time we completed a substantial renovation and repositioning, and developed an outstanding operating team.

“Through multiple European PGA Tour events, countless corporate functions and many happy social events, we are confident that The Belfry has returned to its rightful place as the top resort in the UK.

“We are pleased to leave the resort in such stable hands and wish to thank the many members of the management team who have made our ownership period so enjoyable.”

Advisers on the deal were Jones Day, Alvarez & Marsal, Deloitte, CBRE, Dentons, Savills, Clifford Chance and Bird & Bird.

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