At a Special Angus Council meeting to be held on Thursday 24 August, Councillors will be asked to grant a change to the lease of the Carnoustie Golf Hotel.
The current lease holder, Mineflow Investments Ltd (Mineflow), has requested that the lease is transferred to Carnoustie Golf Links Properties Limited.
If agreed, this transfer would be an initial phase of the future plans to redevelop the hotel, detail of which can be found in Report 194/23 regarding the Carnoustie Golf Provision Future Arrangements.
However, it is important to note that the Hotel Ground Lease agreement relates to Carnoustie Golf Hotel only and is entirely separate from the Management Agreement with CGLMC Ltd, which relates to the golf courses and business. The report being considered will seek a decision only in relation to the Hotel Ground Lease.
The Council’s discretion on deciding whether to grant consent to the change in the Hotel Ground Lease is strictly regulated by the terms of that lease.
Angus Council owns the land upon which the Carnoustie Hotel is built. A ground lease was granted by the council to Mineflow for this land and 100 of the original 125 years of the lease remain. The council receives a ground lease payment for this land and, until 2033, also receives a profit share based on the turnover of the hotel. This agreement will continue should the change to the assignation of the lease be agreed. The hotel will continue to be operated by Bespoke Hotels.