The 45-year-old club is one of dozens of properties up for auction Wednesday morning on the steps of the Spalding County Courthouse as “the deed to secure the debt (has) become in default,” according to the legal notice.
The 230.66-acre property including the clubhouse, golf course and cart storage building, as well as accessories including swimming pool/bathhouse, gazebo, deck and tennis courts are up for auction after being foreclosed by United Bank to pay off a $1.1 million loan from 1998.
Griffin Country Club President Michael Hornung said last month that the terms of the sale include that it remain a golf course. He predicted that one of the potential investors he had been working with may buy the property at the auction.
There are several parcels included in the 230.66 acres ranging in size from 0.09 acres to 42.83 acres, but all are included in the sale of the property, except for a 2.343-acre tract conveyed to GCC Investors LLC on Aug. 31, 2009. According to the Spalding County Tax Assessors website, GCC Investors LLC owns a 2.3-acre tract off the golf course at 1735 Newnan Road.
The entire 230.66 acres, according to information on the Spalding County Tax Assessors website, was appraised at $2,064,226, which includes land, improvement and accessory values of $761,320 (land), $693,828 (improvement) and $609,078 (accessory).
The property was last sold or transferred in 1985 from Shoal Creek Development Co. to Griffin Country Club, according to tax information. Shoal Creek Development Co. still owns several large tracts in the area.
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