IMPACTED BY MANDATORY CIVIL WORKS
This private members club was subject to a compulsory works order that would permanently alter the design of the golf course, would have a short and medium term impact upon the trading potential of the business and potentially the asset value of the site.
Cornerstone Golf were appointed as expert witnesses to manage the impact of the civil works upon the golf course, to calculate the impact upon the business and recommend the level of compensation payable to the golf club.
Cornerstone liaised between the architect, club management team and contractors to minimise the impact of the works upon the playing surfaces, agreed the replanting programmes, modified the related course furniture to minimise H&S risks and produced an ongoing maintenance regime that satisfied the works engineers.
Cornerstone Golf reviewed ten years of historic trading to identify the peak months of trading and the income lines affected by the works and future events. This was captured in a justification paper and associated models for presentation to the club, local authority and contracted parties.
This identified for agreement and approval:
The impact upon the valuation of the club
The compensation payable to the club in light of the works
The compensation payable to the club as a one-off settlement to cover all future events
The revised valuation of the club, proposed compensation levels and settlement dates were accepted and implemented as written by CGL.