De Vere back at The Belfry following KSL takeover
ICONIC golf venue The Belfry has been bought by US private equity firm KSL Capital Partners for an undisclosed sum.
The venue – a world-renowned hotel and golf course complex in Wishaw, near Sutton Coldfield – will now be managed by the De Vere Group after it was appointed by the New York PE house.
As we reported in January, the venue – which has hosted the prestigious Ryder Cup tournament four times – was put up for sale with an asking price of £70m after its Irish owner – the Quinn Group – became embroiled in financial problems.
The Quinns bought the business in a more buoyant market in 2005 for £186m but Sean Quinn, who led the group, saw his empire collapse last year and filed for bankruptcy.
Property agency Jones Lang LaSalle was brought in to handle the sale of the 550 acre venue.
De Vere – which owned The Belfry before the Quinn Group took it over – is planning to extensively renovate the 324-bedroom hotel over the next few months.
The Belfry will remain open while work is carried out.
Law firm DLA Piper acted for KSL Capital Partners in the deal.
