A group of local investors have joined together to purchase Riddell’s Bay Golf and Country Club.

The Royal Gazette understands that the group plans to use the majority of the land as a conservation or green zone, with provision for a 50-acre nature reserve.

Representatives from the investors met with Riddell’s Bay residents last Tuesday to outline their vision for the golf and country club that closed down abruptly at the end of March. One resident, who was at the meeting, however expressed concerns that the group planned to use some of the Riddell’s Bay property for residential purposes.

“We were basically told that they would be closing the golf course,” the resident, who asked not to be named, said. “They also outlined plans for a 50-acre nature reserve.

“But there is some concern that there are proposals to use some of the land for residential purposes.

“There has been a lot of uncertainty around the property for some time now since it closed earlier this year and the grass around the course is getting longer and longer.

“So some residents might say they are happy that someone has actually done something about this situation.

“But then on the other side of that, there has also been a plan put forward by residents and members to maintain the operation of the golf course.”

The Royal Gazette reached out to the group of investors — the majority of whom are Bermudian — for a comment on this story, but none was forthcoming.

Riddell’s Bay Golf and Country Club, Bermuda’s oldest course, closed on March 31 this year after nearly a century in operation.

Professional services firm PwC, who were appointed as liquidators, said the club had “limited and insufficient cash” to meet operational costs and “that there is no prospect of the necessary funding becoming available in the immediate future”.

Members were told to clear out their lockers, while pre-booked parties and events at the clubhouse were cancelled.

PwC’s Alison Tomb and Simon Conway were appointed joint provisional liquidators to liquidate the club after the board of directors lodged a petition with the Bermuda Supreme Court.

A few days after the closure construction company chief Zane DeSilva revealed he had designs on the course and a plan to bring it back to profitable operation.

In June the joint provisional liquidators announced that they had sold two residential plots, fronting the Great Sound, separate from the closed course.

Alison Tomb and Simon Conway of PwC, joint provisional liquidators of Riddell’s Bay Golf and Country Club Limited, said last night: “At this point in time, we are not at liberty to disclose discussions that have taken place but we are hopeful that a sale will be completed in the coming weeks. As soon as we are in a position to make a formal announcement we will do so.”