How Much Is a Country Club Worth?

Area golf course to be auctioned off to highest bidder

Monday, May 20, 2013  |  Updated 12:40 PM EDT
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A South Jersey country club is on the auction block. Find out who is bidding.

NBC10

A South Jersey country club is on the auction block. Find out who is bidding.

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A country club featuring two swimming pools, three tennis courts, 18 holes of golf and other amenities, which fell on hard times has become one of New Jersey's most desirable properties.

Woodcrest Country Club in Cherry Hill is being auctioned off on Monday. It takes up 155 acres in the middle of one of Philadelphia's biggest and most affluent suburbs.

The Courier-Post of Cherry Hill reports a company that develops apartment complexes and shopping centers is bidding. So is the Camden County government, saying it wants to prevent development.

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"The Woodcrest Country Club is in the heart of Cherry Hill in Camden County," county freeholder Jeff Nash told Newsworks.org. "It's one of the most magnificent properties that is not developed and the county has an open space fund approved by the voters to protect properties such as that and that's what we intend to do."

Two other bidders want to keep Woodcrest as a golf course.

One is the Union League of Philadelphia. The other is a partnership headed by George Norcross. The Democratic political powerbroker is an insurance executive and one of the owners of The Philadelphia Inquirer.

The minimum bid is $6.25 million.

 


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