After almost sixty years of serving the community the Oak Hills Golf Course in Stirling went up for sale last summer. There were no takers.
This past December an attempt was made auction off the property. No offer met the reserve price.
But, apparently a deal has been made and the 36-hole facility has a new owner.
He is seizing an opportunity to buy up a business that had been struggling. From the financial records we were able to access the club was losing money and was a facing large mortgage renewal. Based on the numbers, it was hard to fathom them being able to get new financing.
Those issues will remain the problem of the previous owner as home builder Andrew Dunning, the President of Farnsworth Construction Limited, has formed a new company that will become the owner of the Oak Hills facility. This is according to a report in the Intelligencer Newspaper by Ernst Kuglin.
The 35 year-old non-golfer appears to have ambitious plans for the club with a plan for capitalization, improvements, and running the business in a hands-on style.
It will be interesting to see how this plays out and if a golf club that has a long history will have a strong future.
Be sure to check the link above for Ernst Kuglin’s story and we’ll be following this story up with more details as they develop.