Last Update :2/25/2022

Hanover Golf Club under contract to be sold to unidentified local buyer

Hanover Golf Club under contract to be sold to unidentified local buyer
Michael Schwartz February 25, 2022

The Hanover Golf Club is under contract to be sold to an unidentified buyer. (BizSense file)
It didn’t take long for Hanover Golf Club to find a suitor.  Less than two months after it hit the market for sale, the 60-year-old, member-owned course is under contract to be sold to an unidentified local buyer.

The pending deal was confirmed this week by Mike Hatch, whose company Acumen Golf has managed Hanover GC since 2014. Hatch declined to comment further.

Hilda Allen, a golf course broker who is handling the listing, said the deal is expected to close within the next 60 days.

Should it close as expected, the sale would mark an end to the club’s member-owned status. Formerly known as Hanover Country Club, it had been a private club up until switching to semi-private three years ago in a bid to get back to profitability.

Upon listing the course for sale in late December, Hatch said a sale was a chance for members to unload it while golf overall is on an upswing.

Hatch said the club has been profitable for several years running and rounds at Hanover were up to around 15,000 a year. As of December, it had 200 golf members and 100 social members while also offering daily fee play to the public. The club charges $175 per month for a single member and $45 to $59 for daily rounds.
The sale would be the first for a local golf course since 2019, when The Brookwoods Golf Club in New Kent County changed hands.
 
ABOUT THE AUTHOR: MICHAEL SCHWARTZ
Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at michael@richmondbizsense.com or 804-855-1037.

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