Contracts have been exchanged between East Riding of Yorkshire Council and Bridlington Golf Club for the sale of land at the golf course off Belvedere Road in a move that will help secure the club's long term future in the town.
Bridlington Golf Club has been in the town for over 100 years and, as well as having many members at the golf club, attracts thousands of visiting golfers every year.
The club benefits the local economy by attracting visitors to the area and also hosts many events, which benefit local businesses.
Its plans for the future, which include a new hotel, will mean private sector investment in the town supporting the construction industry and creating many new jobs.
The club also provides a social aspect for members and for young golfers looking to take up the game and is the home of a successful junior golf academy.
Discussions have been underway for a number of months and the council has sought advice from the district valuer over the terms of the sale. The district valuer has concluded that the price agreed is "fair, reasonable and best value". The process has also been reviewed by the council's external auditor which was also satisfied that the council was obtaining best value for the land.
Alan Menzies, director of planning and economic regeneration at East Riding of Yorkshire Council, said: "The sale of this land to Bridlington Golf Club helps secure the future of this historic club within the town and also means the council secures a capital receipt that will go back into the authority's budget for future capital works.
"The sale of land and buildings that are surplus to the council's operational requirements or that could benefit local communities is a daily undertaking for the authority, with our valuations and estates office handling over 750 property transactions in 2017/18, including sales, purchases, licences, tenancies and rent reviews.
"Contracts have now been exchanged but the sale will only be completed upon completion of the club's new hotel, which secured planning permission during the summer."
Mike Smith, chairman of Bridlington Golf Club, said "I am delighted that the contracts have been exchanged. This is a momentous time in the history of Bridlington Golf Club and secures its future.
"We will continue to promote "golf for all" in Bridlington and the surrounding area and also strive to attract more visiting golfers to the area, particularly when our new hotel accommodation is operational."