Piperdam resort on verge of being sold for millions

PIPERDAM Golf & Leisure Resort is to be sold in a multimillion-pound deal.

Owners Phil Mulholland and Bruce Linton have been locked in talks with a UK leisure company for the sale of their development on the lower slopes of the Sidlaw Hills.

It is understood an agreement in principle has been reached and only final details remain to be resolved in discussions between teams of lawyers.

The deal is to be fully agreed and signed within days, and a sum in millions of pounds will change hands.

The identity of the new owner has not so far been disclosed but it is believed to be an operator in the UK leisure industry with growth plans. Reports that it was Center Parcs have been denied.

Neither Mr Mulholland nor Mr Linton was available for comment.

Piperdam stretches to 500 acres and was developed as a major leisure resort around Piperdam Loch 20 years ago.

A substantial area on the east side was set aside for upmarket private housing overlooking the picturesque loch and a scenic 18-hole golf course.

The resort offers fishing and other outdoor activities, a licensed clubhouse, restaurant, function suite, holiday lodges and health club, and boasts four-star tourist board status.

The company reported a turnover of £5.1 million in each of the last two years and last year its pre-tax profit was up by 6% at £872,352.

Company secretary Lynda Mulholland, wife of Phil, said in the strategic report for 2016 that the resort had enjoyed another satisfying year’s trading.

Profits were reinvested in the business as could be seen with a new activity centre and planning permission had been granted for further chalets.

Phil Mulholland