Mt. Maunganui Golf Club

Lease Acquisition Case Study

Opportunity

  • The Mount Maunganui Golf Club sought funding to renovate its eighteen-hole golf course. Having an existing cell tower on their property, they recognized the potential financial gain from exchanging their cell tower lease rights for a lump sum payment, which could be used to partially cover the expense of the course reconstruction.
  • The club had been approached by several companies interested in acquiring their cell tower lease rights. They were in the process of evaluating these potential partners to ensure that all stakeholder relationships would be well managed, safeguarding the interests of the asset and the club in the long term.
  • Additionally, the club was reviewing their cell tower lease yields since their current rental income did not align with the lease agreement.

Everest Solution

  • Everest offered complimentary lease analysis and financial assessments for the purchase of the cell tower lease. The information provided by Everest enabled the club to uncover a missed rent review, which, if not traded, would have resulted in higher annual rent income for the club.
  • Everest collaborated with the club’s management and committee to explain the commercial, legal, and procedural implications of selling their cell tower lease. Together, Everest and the club identified numerous vital legal and commercial considerations and crafted a contract that benefited both parties, creating a win-win scenario.
  • The club subsequently sold their cell tower lease rights to Everest for a substantial lump sum, allowing them to partially finance the redevelopment of their golf course, which would have been unattainable through other capital-raising methods. Everest’s transparent contract structure streamlined the settlement process, making it swift and straightforward.
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“Everest reached out to us at a crucial juncture when our Club was actively seeking funding to elevate our facilities. Their initial contact provided a clear understanding of their intentions and the collaborative journey ahead, swiftly revealing the benefits of partnering with them. Over the subsequent months, Everest played an indispensable role in guiding our club towards the establishment of a mutually advantageous commercial agreement. These funds will be utilized to maintain the high-quality facilities our club members deserve.

On a personal note, I witnessed Everest’s unwavering commitment to our partnership, with their sincere dedication to our club’s well-being and the preservation of our telecommunication assets. Their transparent communication and efficient management of the process were truly invaluable.

I wholeheartedly recommend Everest to anyone contemplating the trade of their telecommunication assets.”

— M Williams – Mt Maunganui Golf Club.