Tuesday, September 8, 2009

It's Nice Work If You Can Get It.....

There's an old Island expression related to getting a Government job and it goes something like this.. "It's nice work if you can get it" and if they can sell the Avondale Golf Course for $3.6 million then let's put our Provincial courses up for sale... according to Mr. MacEachern he has 20 people interested so I could only imagine the line up for PEI's finest but it appears we'll never know unless the Premier lives up to his commitment and puts the courses up for sale... just maybe there are some real investors looking to snap them up.... I still don't understand why Government is so bent on operating a private business and competing with private enterprise and all the while losing "our" shirts... It's time to develop an exit strategy for these courses and move on to promoting the rest of the industry... there's plenty of opportunity to put the sale proceeds back into heath care and education...
Avondale Golf Club owner puts it back on the market
The Guardian
After initially going up for sale two years ago, the Avondale Golf Club has been re-listed for sale. Club owner Wendell MacEachern recently put the Vernon River course up for sale through Century 21, asking $3.6 million. The full-service course was initially put up for sale following the last provincial election, with MacEachern hoping he could market the course along with a number of other courses that had been put up for sale by the province. “I figured if the province was serious about selling their courses, (having) the best intermediate course on the Island, I thought there might have been an opportunity for me there,” MacEachern said. “That really was the method to my madness.” However, because of a passive marketing strategy the course never sold. Now two years later MacEachern is using a more aggressive approach and seeing serious results with some 20 interested buyers approaching him already. He said the course, which he’s invested serious money into fixing up over the years, is as marketable as it ever has been, adding for him, this is the perfect time to sell. “There’s no more need to spend a lot of money on infrastructure,” he said, adding while there are a number of reasons he’s selling, poor tourism numbers are the main one. “Owning a golf course is fun,” he said. “It’s a nice, clean industry, but you’re relying on government for promotion and we’ve been on a lull for tourism lately. Now is the right time for me because I can market it at a price that is reasonable.”

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