#1 • Lake Wales Country Club - 2925 State Road 60 E, Lake Wales, FL  33898

Part of Lake Wales Country Club (timed auction by Bullseye Auction & Appraisal, LLC)

High bid $605,000.00

Bidding closes Feb 18, 2021 11:16 AM EST

Lake Wales Country Club Seth Raynor & Donald Ross Original Design 2925 State Road 60 E, Lake Wales, FL 33898 Selling Online Only AUCTION BID DEADLINE: Thursday, February 18th @ 11 AM EST ASSET DESCRIPTION: Consisting of 151+/- acres, Lake Wales Country Club features a premier 18 hole championship course designed by Seth Raynor and Donald Ross. The club offers a tree lined golf course, practice facility, clubhouse and tennis program. The state of the art clubhouse is 30,000+/- sq. ft. with a banquet facility that provides seating for 300+. The clubhouse features an oversized kitchen, storage area and is ideal for weddings, tournaments, private events and more. Polk County Property ID #28-30-05-000000-021010. Property selling subject to purchaser's ability to assume existing cart lease. The cart lease provides 62 DR2A AFI golf carts with 8 annual payments of $5,270.00. Payments are not required for June, July, August and September. The lease ends on May of 2024. Property is being sold with all existing pro shop inventory, intellectual property and all remaining personal property throughout clubhouse, kitchen, dining room, etc. 2020 Rounds Played = 28,550 2019 Rounds Played = 30,750 IMPORTANT UPDATE 02/09/21: A very limited amount of "owned" maintenance equipment exists. The larger assets required to maintain this golf course are leased. The property is being sold subject to the purchaser's ability to assume a portion of a John Deere equipment lease with Milmack, Inc. that started on September 1st, 2019 and ends on September 1st 2023. Some of the equipment within the lease is allocated for use a Oakwood Golf Club. The equipment allocated for Lake Wales Country Club is as follows: (1) 2019 Jacobsen HR-6010 Large Area Rotary Mower (2) 2019 John Deere TX 4x2 Gator (1) 2019 John Deere ProGator 2020 (1) 2019 John Deere 1200 Hydro Bunker & Field Rake (1) 2019 John Deere Lely 11.5 Cu. Ft. Trailed Broadcast Spreader Total Monthly Lease Expense, Including Taxes: $2,862.75 Again, this John Deere lease ends on September 1st of 2023. "Owned" Maintenance Equipment: (1) Jacobsen GP400 Serial #6270611008 (1) Jacobsen GP400 Serial #6270610995 (1) Jacobsen LF570 Serial #68019231175-01953 (1) Kubota L3301HST Tractor w/ Front Loader & Backhoe CLICK HERE for Club Website INSPECTION: Please contact Auctioneer for instructions. REGISTRATION & BIDDING: Online registration and bidding to start on February 8th. TERMS: Please click the "Documents" tab for General Terms and Conditions. BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid. Example: For a high bid of $100,000, a 10% buyer’s premium of $10,000 will be added making the purchase price $110,000. ONLINE BIDDING: For online bidding instructions, please contact Scott Schwartz at 404-550-3490 or scott@bullseyeauctions.com. Auction Conducted by: Hilda W. Allen Real Estate, Inc., 212 Old Quitman Annex Road, Adel, GA 31620, Phone: 229-896-1492. FL Auction #AU3003 / FL RE #BK3036361 Online Auction Facilitator: Bullseye Auction & Appraisal, LLC, 500 Pike Park Drive, Suite F, Lawrenceville, GA 30046