Independence Golf Club, seen with its clubhouse in the distance, opened in 2001. (Courtesy Independence social media)
The sales price paid for Independence Golf Club has been revealed – at least for the real estate side of the deal.
The semiprivate golf course on the Powhatan-Chesterfield line officially sold late last month to Northern Virginia-based Heritage Golf Group for $9.53 million, according to county property records.
That price was just for Independence’s real estate, which is made up of roughly 260 acres, the bulk of which is in Powhatan.
The $9.53 million does not include additional consideration paid for Independence’s business assets. That separate sales figure was not disclosed.
Giff Breed, whose Pros Inc. was the seller and had operated Independence since purchasing it for $3 million in 2013, could not be reached for comment.
The clubhouse at Independence (Michael Schwartz)
The club’s real estate was most recently assessed by Powhatan and Chesterfield at a combined $5.27 million.
The sale of the business assets closed Sept. 10, but the sale of the real estate wasn’t recorded with the counties until recent days, online property records show.
It’s unclear what changes Heritage Golf may have in store for Independence.
Observers in the local golf industry are waiting to see whether Heritage will convert Independence from a public, daily fee club to a members-only private club.
Heritage owns 51 golf clubs, the bulk of which are private.
Representatives of Heritage Golf did not respond to a request for comment Wednesday afternoon.
The deal gives Heritage control of three courses within central Virginia: the Dominion Club in Henrico County and Spring Creek Golf Club in Louisa County’s Zion Crossroads, in addition to Independence.
Independence opened in 2001 as the centerpiece of the surrounding Founders Bridge residential development. It features an 18-hole course and a nine-hole short course.
The club was founded with the help of benefactors such as Richmonders E. Claiborne Robins Jr. and Harry Easterly Jr. Breed’s group purchased it from the Virginia State Golf Association.
Heritage has been on a golf course buying binge in recent years since it was acquired by private equity firm KSL Capital Partners.
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