US private equity firm KSL Capital Partners is in advanced discussions to buy The Belfry, the former Ryder Cup golf venue in the West Midlands.
The company is understood to be acquiring The Belfry for just more than £70m from Irish property investor Sean Quinn and the resort’s lenders.
The 550-acre resort, which includes three golf courses and a 324-bedroom hotel, was put up for sale last October after struggling with around £105m of debt. It was brought to the market with a £90m price tag.
In 2005, De Vere sold The Belfry to the Quinn family for £186m. The family paid a further £20m to buy the hotel company out of its management contract two years later.
It is thought that De Vere Group, now controlled by Lloyds Banking Group, is eyeing a management contract to take back control.
Jones Lang LaSalle is advising on the sale.
annabel.dixon@estatesgazette.com
