Manawatu Golf Club

Lease Acquisition Case Study

Opportunity

  • MGC was in search of funds to construct a new facility to enhance member services and provide a fresh source of revenue for the club. MGC had a cell tower on their property and as such, was contemplating the trade of their cell tower lease rights in exchange for a lump sum cash payment.
  • The club had been approached by a tower company proposing to lease additional land from the club and sought advice from Everest on the terms of the proposed telecommunication lease.
  • Everest engaged with club management and their committee to explain the commercial, legal and process implications of selling their cell tower lease.
  • Everest provided complimentary lease analysis and financial appraisals for the buyout of a cell tower ground lease.

Everest Solution

  • Everest acquired the cell tower lease rights from the club for a substantial lump sum, covering the majority of construction cost for the facility. This move not only expanded the club’s amenities but also established a new revenue stream, effectively doubling the annual rental income from the existing tower lease.
  • Everest played a pivotal role in helping the club negotiate favourable financial and contractual terms for their new telecommunications lease.
  • Everest’s transparent contract structure simplified the settlement process, which was a significant factor in the landowner’s decision to choose Everest as their partner.
  • As a result of their shared values and close alignment, the club and Everest have formed a strong partnership, with Everest proudly serving as a sponsor of the club.
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“The Manawatu Golf Clubs relationship with Everest started with a cold call, asking to discuss our lease arrangements with our existing cell tower.  The first impression was professional and engaging, so we arranged a second call and ever since then, the relationship has grown into a true partnership between the Manawatu Golf Club and Everest.

My feedback about Everest is very positive. Everest do what they say they will do, always act with integrity, are open to discussion and provide support and advice without charge. The service and partnership they provide to MGC means I would encourage any property owner who has a tower that they are considering on selling, to chat with Everest first.

In my role as General Manager of the MGC I am happy to provide further in person feedback to anyone who is considering partnering with Everest. I am very happy to endorse them as a high-quality company.”

— James Lovegrove – Manawatu Golf Club.