Oakwood Golf Club
ONLINE ONLY AUCTION
3301 Old Wailes Road
Lake Wales, FL 33898
FL License #s BK3036361, CQ1019764, AU3003, AB2408
Oakwood Golf Club
OWNER READY TO RETIRE • Located in central Florida • Karl Litten, course designer • Full-service golf facility • 18-hole championship club • Very populated, high traffic area • Plays to 6,681 yards • 5 sets of tees • Beautiful backdrop • EXCELLENT CONDITION
Selling Online Only
AUCTION BID DEADLINE: Thursday, February 11th @ 11 AM EST
ASSET DESCRIPTION: Consisting of 160+/- acres, Oakwood Golf Club is an 18 hole Karl Litten designed course.
Property includes a 12,500+/- sq. ft. clubhouse with parking, kitchen, bar, dining room and upstairs living areas. The carts are stored below the clubhouse. Property selling subject to purchaser’s ability to assume existing cart lease. The cart lease provides 52 DR2A AFI golf carts with 8 annual payments of $4,315.99. Payments are not required for June, July, August and September. The lease ends on May of 2024.
Property is being sold with all existing pro shop inventory, intellectual property and all remaining personal property throughout clubhouse, kitchen, dining room, etc.
Water is pumped from the lake on the 18th hole.
2020 Rounds Played = 18,838
IMPORTANT UPDATE 02/09/21: A very limited amount of “owned” maintenance equipment exists. The larger assets required to maintain this golf course are leased. The property is being sold subject to the purchaser’s ability to assume a portion of a John Deere equipment lease with Milmack, Inc. that started on September 1st, 2019 and ends on September 1st 2023. Some of the equipment within the lease is allocated for use a Lake Wales Country Club. The equipment allocated for Oakwood Golf Club is as follows:
(1) 2019 John Deere 9009A 4WD T4
(2) 2019 John Deere 2500B Riding Greens Mower
(1) 2019 John Deere 7700A Precision Cut Fairway Mower
Total Monthly Lease Expense, Including Taxes: $3,376.52
Again, this John Deere lease ends on September 1st of 2023.
IMPORTANT UPDATE 02/05/21: A very limited amount of owned maintenance equipment exists. The larger assets required to maintain this golf course are leased and/or under finance agreements. Therefore, none of the maintenance equipment under a lease and/or finance agreement will be conveyed at closing. The Seller is willing to provide information on all of the maintenance equipment, should the new owner look to assume all or any part of the lease and/or finance agreements.
IMPORTANT UPDATE 02/05/2021: Please be advised, Polk County Tax Parcel #283005000000011080 appears to encompass a part of the Oakwood Golf Club parking lot and cart path with access to the 10th hole. This tract previously served as a driving range, but is no longer owned by Oakwood Golf Club and will not be part of the auction. Please click the documents tab to view an aerial of the tract in relation the the parking lot and cart path access to the 10th hole.
INSPECTION: Please contact Auctioneer for instructions.
REGISTRATION & BIDDING: Online registration and bidding to start on February 1st.
BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid. Example: For a high bid of $100,000, a 10% buyer’s premium of $10,000 will be added making the purchase price $110,000.
ONLINE BIDDING: For online bidding instructions, please contact Scott Schwartz at 404-550-3490 or firstname.lastname@example.org.
Auction Conducted by: Hilda W. Allen Real Estate, Inc., Phone: 229-896-1492.
FL Auction #AU3003 / FL RE #BK3036361
Online Auction Facilitator: Bullseye Auction & Appraisal, LLC, 500 Pike Park Drive, Suite F, Lawrenceville, GA 30046
|Asking Price||ONLINE AUCTION|
|# of Holes||18|
|Pro On Site||--|
|Pro Shop Sells||Equipment and Apparel|
|Grass Type||Bermuda greens and fairways|