Funding

From the initial discussions on creating a viable funding structure for delivering The Angus resort it was appreciated that golf resorts were inherently difficult to finance. In this regard, the support of cross funding from residential development was considered a critical aspect of the development.

As such, the favourable number and phasing of residential units, for which planning permission has now been secured, is considered fundamental to a funding proposition.

Attractive sales values are supported by recent local transactions and could benefit from the premiums achieved at other resorts where high quality golf facilities have enhanced the value of luxury accommodation.

The landowner is flexible in considering various funding structures in facilitating the progress of the development. It is noted, that the land is well suited to a championship golf course, with undulation, water features and mature trees on the existing site. As such, there is greater construction cost visibility than typical for a high end golf course as there is less earth movement, drainage and tree planting work.

The luxury leisure resort at Gleneagles does present a good example of a successful operation. In this regard, The Angus location compares favourably to Gleneagles in terms of climate (half the average annual rainfall) and accessibility (quicker travel links to major cities and proximity to other leisure attractions). As such, The Angus is anticipated to attract similar visitor numbers.

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