Beacon Hall rumours of land sale?

[buckhornification]

Has anyone heard anything about Beacon Hall getting an offer(s) to buy the property for development? Would hate to lose that course even though I only play it once or twice a year if I’m lucky. Would probably be a massive take by the 250 equity members. $250 million for the land would mean $1M for each member?

[High cut]

Has anyone heard anything about Beacon Hall getting an offer(s) to buy the property for development? Would hate to lose that course even though I only play it once or twice a year if I’m lucky. Would probably be a massive take by the 250 equity members. $250 million for the land would mean $1M for each member?

Where did the $250m number come from?

[Weirfan]

Where did the $250m number come from?

Was thinking that number is high, $100-$150 million would be my guess.

[P25]

Mandarin got $250 didn’t it? I’d think that’s not that far out of line.

[Weirfan]

Mandarin got $250 didn’t it? I’d think that’s not that far out of line.

IDK , Highland Gate sold for about $60 million a few years back and the developer said town could buy it back for ~ 90 million last summer or maybe summer before back, town felt that was too much.

Different pieces of land mind you.

would hate to see Beacon go, IMO its one of, if not the best best golf course in the Province.

[wrigley]

Mandarin got $250 didn’t it? I’d think that’s not that far out of line.

Mandarin sold for $25 Million.

[Ignatius Reilly]

It's a great course and reasonably close to town, which makes it pretty desirable.

I've met a handful of members, and I can't believe any one of them would want the $1M. Where would they find a similar course? And what would they do with the money? I didn't get a sense that another $1M in the bank would make much difference to their lives, but losing the course sure would.

[P25]

Mandarin sold for $25 Million.

Thanks. Don’t know why I thought it was so high. Guess York Downs’ sale price made me think so.

[bcampb00]

It's a great course and reasonably close to town, which makes it pretty desirable.

I've met a handful of members, and I can't believe any one of them would want the $1M. Where would they find a similar course? And what would they do with the money? I didn't get a sense that another $1M in the bank would make much difference to their lives, but losing the course sure would.

$1MM is a lottt of money to play golf and there are lots of quality alternatives in the GTA.

[High cut]

$1MM is a lottt of money to play golf and there are lots of quality alternatives in the GTA.

That's not wrong. Oh yeah, and successful people don't usually get there by saying no to a basically free $1m.

[bcampb00]

That's not wrong. Oh yeah, and successful people don't usually get there by saying no to a basically free $1m.

I wouldn't. And like lots of golf courses, I think the membership at Beacon Hall has evolved over the years. 20 years ago, it was a somewhat exclusive, mostly second (or third or 5th) membership for a bunch of well to do guys. Some of that remains but a lot of new "regular" members as well. In addition, all golf courses have a cohort of older members who are getting close to golf "retirement age". I love Beacon Hall but it can be tough - No country for old men ...

[Weirfan]

That's not wrong. Oh yeah, and successful people don't usually get there by saying no to a basically free $1m.

So we could maybe be teeing up at Coppinwood in the future

[Ignatius Reilly]

$1MM is a lottt of money to play golf and there are lots of quality alternatives in the GTA.

$1MM is a fair amount of money, but I think all (or most) of the guys I've played with there have given more than that to various charities. So I don't think they'd want to lose a good golf club for that.

bcampb00 raises an interesting point. BH, like many other clubs has gone through some changes. Maybe the bulk of the current membership would rather drive further to a lesser course and have... what? An even bigger TV?

Maybe I just played with some outliers?

[bcampb00]

$1MM is a fair amount of money, but I think all (or most) of the guys I've played with there have given more than that to various charities. So I don't think they'd want to lose a good golf club for that.

bcampb00 raises an interesting point. BH, like many other clubs has gone through some changes. Maybe the bulk of the current membership would rather drive further to a lesser course and have... what? An even bigger TV?

Maybe I just played with some outliers?

I would guess the share of the 260 members who have given $1mm to charity is quite small and in that sense may be outliers. You roll with some ballers though..

[sundevil]

You were right about the offer and the amount. Each member would have received 1 million but it was voted down.....