who actually owns the sports zone

hi folks further to a recent thread i replyed to i am just wondering who actually knows who owns the sports area..does anyone really know if pw have have given the lease to the banks if so would it not be an idea for ola golf to approach the banks to use the place as the clubhouse it is crying out to be used it has ..lockers..changing rooms..a bar ..kitchen..all the facilities you would need to operate as a clubhouse it might be a bit far from the course but it is only buggy ride away its a disgrace the place not being used by anyone..i wonder are there legal issues have pw an option to take the lease back...anyone who knows whats the future is for the sports area please post and let us all know...thanks stevie...    

This has come up a few times and the information seems to be that the Banks now 'own' the sports zone. It was owned by PW under one of their many company names and passed to the Banks as part of resolving PW's debt crisis. I'm certain I read (at around the time of the AGM so maybe as part of all the discussion that went on then) that the Banks didnt intend to lease the sport zone out and where not looking for another company to run it although they would allow the Community of Owners to have a lease on it. I know it was under consideration by the Presidents and in early summer some talks had taken place but I'm thinking they want too much money or it's too complicated an arrangement and so its still under negotiation with the Presidents.  It may be that PW have an agreement that its just held in surety until they get to the position of taking it back and that's why no other company was being sought.

The Sports Zone is Owned by IRM the consortium of banks.

The Presidents have tried to obtain a lease or ask Banks to re-open

Unable to arrange any meetings as yet suspect banks have other priorities at the moment (Paramount ?)

They did offer a short lease till October at extortionate rates.

I hope that once any Paramount decisions have been made we can arrange a meeting to negotiate something on the Sports Zone.

It fills my welsh heart with joy to see positive thinking Mick, but I will put money on the fact that if Paramount do get the go ahead for their considerable developement, it won't be a group of us owners running the sports bar..................that little area will turn into some very hot property overnight. The banks will be inudated with bidders trying to tie up a nice, lucrative lease on a ready made money-making machine.

ww