Finance deal enables entrepreneur to acquire historic golf course
Fame Tate, the former ladies golf professional, has acquired an historic golf club on the edge of the Peak District, for an undisclosed sum.
Stanedge Golf Club was founded in 1934 and is based in Ashover, Chesterfield.
Funding for the deal was supplied by Manchester-based Reparo Finance and arranged by Sheffield-based specialist broker Real Property Finance.
Tate started playing golf aged 10 and played as an amateur for England and then Great Britain.
After turning professional, she played on the Ladies’ European Tour and Asian Tour for five years before a serious injury forced her to take a break from the game.
She started her coaching journey at Tapton Park in Chesterfield, coaching women and juniors and it was there she completed the Professional Golf Association (PGA) Foundation Degree, to equip her with the skills to operate in the golf business.
As an ambassador for Derbyshire Golf Tate has always had a keen interest in grassroots golf initiatives.
Fame Tate, owner of Stanedge Golf Club, said: “I want the club to be affordable, accessible, friendly and fun. My vision is about getting people of all backgrounds engaged with the sport I love.
“When I heard the club was up for sale I knew it was a perfect opportunity. The hard work starts now.
“I feel like we’re spinning a lot of plates, but it’s great – I’m living, breathing and sleeping the business, but it helps to have an excellent team that I trust.”
Immediate plans include renovations of the clubhouse, catering facilities and enhancements to the surface of the course.
Sharon Bryden, operations director at Reparo Finance, said: “Fame is a passionate and knowledgeable entrepreneur with a strong business plan.
“After meeting Fame, completing due diligence and working through the agreements, we had no hesitation in releasing a finance package to enable her to acquire the club quickly. It’s a really good example of how entrepreneurs can secure funding quickly outside of the high street banks.”
Alan Laslett, director of Real Property Finance said: “Getting funding from traditional banks for this type of deal is challenging because the underlying asset, a golf course, is tricky to value.
“The fact it involves a new start-up business and a new entrepreneur meant alternative funding sources were needed quickly or the opportunity would be lost. We are pleased to have played a role in assisting the launch of this exciting venture.”