Additional information
| Author(s) | Cummins, Michael |
|---|---|
| Dustwrapper | |
| Irish Interest | |
| Pages | |
| Publisher | |
| Year of Publication |
Glen Of The Downs Golf Club was founded in May 1998 by a farmer, Michael Doyle, on his own farm which was located in County Wicklow, Ireland. Initially Doyle reached out to Eddie Hackett to assess the feasibility of a golf course on his land after witnessing what was happening in Charlesland. The site was known for its stunning 130 acre parkland course set against the backdrop of the Wicklow Mountains and the Irish Sea.
The course was designed by Peter McEvoy, a renowned golf course architect, to USGA specifications. McEvoy’s design featured natural slopes, valleys, undulating greens, and around 90 bunkers, providing a challenging yet beautiful golfing experience. The 18-hole course measured 6,443 yards from the back tees and had a par of 71. Initially preference shares were offered at IR2,500 but increased to IR25,000 when all 650 were issued. The ordinary shares were held by the Michael Doyle family and close associates. Doyle had leased the land to The Glen of the Downs plc with a 99-year lease and the new clubhouse opened in 2001 to much acclaim. The preference shares were actively traded or leased until the crash of 2008 at which stage the club was Eur2m in debt and the introduction fees could only be used as a capital loss to be set-off against similar gains in other investments.
By 2014/2015 only 60% of members or nominees were paying subscriptions and the club was no longer able to meet interest payments on the Eur2.9m owed. Receivers were appointed by AIB and Goldman Sachs and the company eventually went into liquidation in January 2017<br>
By May 2017 the land was up for sale by CBRE with a guide price of Eur1.25m and subsequently sold lis pendens to Anke and John Moran in 2018. The new owners planted the area in native trees as part of a nature restoration project to attract wildlife with the intention of opening it up to the public as a connector between the Glen of the Downs and the Sugarloaf mountains. The former clubhouse appeared again in 2022 as planning permission for a change of use filed on behalf of John Hegarty. The clubhouse was to be converted to provide for heritage museums and retail area but the application was subsequently withdrawn.
| Author(s) | Cummins, Michael |
|---|---|
| Dustwrapper | |
| Irish Interest | |
| Pages | |
| Publisher | |
| Year of Publication |