SOUTHWICK – Southwick Country Club Owner Bill Najam filed papers on Thursday to sell the 110-acre property.
Southwick Country Club. (Photo courtesy of Dan Desrochers)
A development entity called Fiore Realty Holdings, LLC is interested in purchasing the land. Dick Fiore, who is the Vice President of Fiore Realty, has been in discussions with Najam in recent months about acquiring the land. With all 110 acres of land zoned residential, Fiore knows what his family business is most likely going to do with the property.
“We would like to build single family homes,” said Fiore. “That’s certainly what we’re planning on doing.”
However, since there was a tax abatement agreement in the past on the land that permits it as recreational property, the town of Southwick has the right to match the sales price from Fiore Realty and purchase the country club. This leaves the town as the primary party to purchase and Fiore Realty as the secondary party. The town of Southwick has 120 days to respond and make a decision.
If the town decided to match the sales price, they could choose to keep the land as a golf course.
Noting that the golf course industry is depressed, yet there are around 20 public courses in the surrounding area, Najam explained why he ended up selling the golf course.
“We have a great deal of competitive golf within the market place,” said Najam. “It’s very difficult to make any money in the business.”
As Najam is waiting to hear what the town’s decision is, the golf course will remain open until it closes for the winter. The country club employs about 30 people.
According to Najam, the Candlewood Inn, a restaurant on the property, was not part of the developer’s intent to purchase, but if the town decides not to exercise their right to buy the property, the restaurant will be in the purchase agreement in a separate transaction.
The initial closing of the property is expected to be in February 2018 and Najam would have approximately a year and a half to market the restaurant separately. If Najam doesn’t want to sell the Candlewood Inn, there can be an agreement that the buyer could purchase it in full price.
Najam became a part owner of Southwick Country Club in 1984. The building was built in 1928 when the first nine holes were created.
