Successfully managing the impact of significant civil works
This private members’ club was subject to a compulsory civil works order that would permanently alter the design of the golf course, have short and medium-term impacts on the trading opportunity of the business and, potentially, the asset value of the site. Faced with these unprecedented circumstances, the club turned to Cornerstone Golf to assist.
Confronted with a compulsory civil works order that would permanently alter the design of the golf course, Cornerstone Golf were appointed as expert witnesses to:
- Manage the impacts of the civil works upon the golf course
- Measure the resulting impact on the business
- 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 on playing surfaces, agree on replanting programmes, modify the related course furniture to minimise health and safety risks, and produce an ongoing maintenance regime that satisfied works engineers.
Cornerstone Golf reviewed 10 years of historic trading to identify peak months of business 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:
- Impact on the valuation of the club
- Compensation payable to the club in light of the works
- 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 by all parties.
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