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Golf club members to discuss multi-million pound lease surrender deal

Will Taylor

Will Taylor

Golf club members to discuss multi-million pound lease surrender deal

Members of Maidenhead Golf Club will meet next month to discuss the Royal Borough’s multi-million pound offer to surrender the course’s lease early.

They will discuss whether it is in the interests of the club to accept the offer on Monday, July 4 at the Holiday Inn in Manor Lane.

Under discussion will be a special resolution that the Articles of Association of the Company be amended to prevent the board from selling the club’s assets worth over £1million without ‘prior approval of an ordinary resolution of the Company’, according to a letter sent to members and seen by the Advertiser.

A subsequent resolution to authorise the board to accept the offer will be considered, and, if not passed, a resolution to direct the board to reject the offer will then be considered by the meeting.

The council has earmarked the 150-acre site for 1,300 new homes if the lease is surrendered early.

The club will receive £12m to give up the lease, which expires in 2039, within seven years, rising to £16.25m if the club leaves within three years.

In addition, it  will no longer pay the council rent, currently £115,000 a year.

*The headline of this article has been amended after it incorrectly stated golf club members were due to meet with the Royal Borough.

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