Beacon Hill Golf Course sells for $3.4million
This great Golf course in the Beacon Hill community in west Leesburg was auctioned off on Monday July 2nd for $3.4 million.
Residents will not notice any change to the 330 acre property which has been waiting to be auctioned off since 2005 - the delay was due to a dispute regarding the positioning of lien holders - however the property was valued the previous year at over $7 million, but with estimates since then in 2005 ranging from $4-$5million. During the dispute the golf course was said to be a deteriorating asset that needs constant upkeep and needed a new owner to perform these duties, attempting to speed up the sale.
The new owner Bristol County Retirement System and Plymouth County Retirement Association plans to keep things just the same as it plans to sell the property on its own and is actively marketing the property for sale. Ten percent was expected to be paid as a deposit at the auction and settlement is planned within 45 days.
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