INTRODUCTION

READING COUNTRY CLUB

Reading, PA

18-hole Daily-Fee Golf Course Facility

For Lease

INVESTMENT HIGHLIGHTS

❑ Alex Findlay Golf Course❑ Master Plan being commissioned❑ Close to Downtown Reading on US 422❑ National Register of Historic Places❑ Distinctive Clubhouse

Offered for Lease to qualified parties through RFP

Property Tours can be arranged through Golf Property Analysts

Golf Property Analysts is pleased to represent and offer for lease Reading Country Club in Reading, PA. Reading Country Club offers a rich history and an excellent Alex Findlay golf course. In May 2018, RCC was listed on the National Register of Historic Places as an important example of an Alexander Findlay design and is significant for landscape architecture. Findlay’s design at RCC is among the best examples of his work and one of the few Findlay courses that has maintained his design with little change. The property also boasts a Tudor style clubhouse with banquet facility.

Property Address 5311 Perkiomen Avenue, Exeter Township, PAType of Club Daily-Fee# of Holes 18Land Area 152± AcresCourse Architect Alex FindlayYear Built 1935Clubhouse 20,604 SF# of Rounds (2018) 16,090# of Members 16Gross Revenue (2018) $595,661

OFFERING SUMMARY

REGIONAL LOCATION

SITE LOCATION

Reading CC

DEMOGRAPHICS

5 minutes 10 minutes 20 minutes Berks Cty PA USA

POPULATION

2000 Total Population 17,309 130,721 281,060 373,612 12,280,773 281,399,034

2010 Total Population 21,563 143,487 312,637 411,442 12,702,379 308,745,538

2018 Total Population Projection 21,885 144,584 317,316 418,355 12,814,944 326,955,948

2023 Total Population Projection 21,791 148,366 322,195 420,763 12,808,178 338,366,389

2000-2010 Population: AGR 2.46% 0.98% 1.12% 1.01% 0.34% 0.97%

2010-2018 Population: AGR 0.21% 0.11% 0.21% 0.24% 0.13% 0.84%

2018-2023 Population: AGR -0.09% 0.52% 0.31% 0.12% -0.01% 0.70%

HOUSEHOLD

2000 Total Households 6,702 50,488 109,606 141,568 4,776,916 105,471,527

2010 Total Households 8,248 52,893 118,578 154,356 5,018,904 116,716,292

2018 Total Households Projected 8,481 53,988 121,791 158,862 5,181,839 125,541,798

2023 Total Households Projected 8,600 56,376 125,909 162,748 5,308,183 131,066,156

2000-2010 Household: AGR 2.31% 0.48% 0.82% 0.90% 0.51% 1.07%

2010-2018 Household: AGR 0.40% 0.30% 0.39% 0.42% 0.46% 1.08%

2018-2023 Household: AGR 0.28% 0.88% 0.68% 0.49% 0.49% 0.88%

MEDIAN HOME VALUE

2018 Median Home Value $167,800 $171,400 $173,800 $207,344

MEDIAN AGE

2010 Median Age 40.1 34.7 37.7 39 40.1 37.1

2018 Median Age 41 35.3 38.3 39.8 40.7 38.2

2023 Median Age 40.9 35.7 38.5 39.7 40.9 38.9

INCOME

2018 Average Household Income $101,193 $66,121 $79,030 $82,006 $83,647 $87,119

2023 Average Household Income $121,761 $75,809 $93,282 $97,226 $100,837 $102,840

2018 Median Household Income $78,726 $47,277 $58,397 $62,732 $59,796 $60,523

2023 Median Household Income $91,434 $53,821 $66,608 $71,395 $68,649 $69,473

2018 Per Capita Income $39,317 $24,826 $30,492 $31,343 $34,125 $33,690

zip code 19606

Data from Applied Geographic Solutions

READING COUNTRY CLUB

DEMOGRAPHIC SUMMARY

Total Households

Number of Golfing Households

Projected Golfing Households (2023)

Projected Annual Growth Rate

Seasonal Golfing Households

Latent Demand/Interested Non-Golfers

Household Participation Rate

Number of Golfers

Rounds Potential (resident golfers)

Est. Course Rounds (in-market supply)

Median Household Income

Median Age

US Median Household Income

US Median Age 37.2 37.2 37.2

41.3 34.9 38.3

$60,522 $60,522 $60,522

35,779 61,529 247,121

$78,458 $46,561 $58,237

1,891 7,912 21,394

31,515 124,992 370,400

3,649 19,094 45,904

14.00% 10.20% 11.90%

0.20% 0.50% 0.40%

3 9 45

1,296 5,261 14,576

1,312 5,387 14,857

Demand Measures

TravelTime of 5

minutes

TravelTime of 10

minutes

TravelTime of 20

minutes

9,231 51,632 122,339

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

MarketBerks Cty PA USA

Household Growth

2000-2010

2010-2018

2018-2023

SITE

N

GOLF COURSE

Facility Summary

Facility Type: MU Year Opened: Pre-1960 1923

No. Holes: 18 Architect: Alexander Findlay

Course Design: Traditional Parkland Course Layout: Core

Practice Range: Yes Green Construction: Native Soil, Push Up

Putting Green: Yes Chipping Green No

TURFGRASS Greens Tees Fairways Roughs Bunkers

# of: 19 43 23 18 39

Total Acreage 3 acres 2.25 acres 22 acres 97 acres 1.75 acres

Type of grassing Poa Annua/Bentgrass

Ryegrass/Poa Rye/Blue/Bent Rye/Blue/Fescue

Construction Native Soil, Push Up

Native Soil/Matrix Native Soil Native Soil No Drainage

PRACTICE FACILITY

Practice Facilities

Length (yards) <250 yards Width (yards) 50-75 yards

Tee Surface Grass & Mats Chipping Green? No

Tee Area .25 acres Annual # of Balls Hit

# of Stations? 11-20 Practice Green? Yes

# of Targets 3 - 7 Irrigation Yes

Practice Bunker? No Is there lighting? No

SCORECARD

CLUBHOUSE

Clubhouse

Year Built: Pre-1960 Do you have an alarm system? Yes

Sprinkler System: Yes

Overall condition of building? Average Exterior Lighting: Yes

Size of Clubhouse (SF) 20,604 Dining Room Capacity: 113

# of stories 3 Seating capacity in grille: 35

Foundation: Poured Concrete Seating cap. in banquet area: 251-300

Façade : Combination - Specify

# of Men’s lockers 40

Roof type: Slate # of Women’s lockers 20

MAINTENANCE FACILITY

Maintenance Building & Yard

SF size of building? 5,600 Separate/Secure Chemical Storage

Yes

Year Built: 1981 Containment Adequacy? Adequate

Façade of building? Aluminum SIding Supply storage Yes

Type of floor? Concrete # of overhead doors? 3

Type of interior lighting? Fluorescent Size of maintenance yard?

Unknown

Superintendent Office: Yes Yard Fencing: No

Shower Facilities No Is the yard paved? Yes

Heated Space (SF): # of fuel tanks 2

Capacity of Tanks 550 Waste Oil Above /Underground? Yes

Is there an equipment wash area/discharge?

Yes Is the maintenance yard visible from the course?

Yes

Cold Storage Area (SF) Clipping Dump Site(s) No

Does it have a mechanics bay (how many)?

Yes Do you have a nursery? No

OTHER BUILDINGS & FACILITIES

OTHER BUILDINGS & FACILITIES

RECENT PERFORMANCE

Annual Revenues2018 2017 2016

Gross Revenue $595,661 $599,931 $660,018Golf Revenue $577,718 $452,764 $470,315Membership Dues $69,514 $67,291 $112,006Food & Beverage $17,943 $47,347 $33,652Pro Shop Revenue $23,462 $32,529 $44,045Pro Shop Owner Club Club Club

Course Activity2018 2017 2016

Total # of Rounds 16,090 20,319 22,139Total # of Cart Rounds 14,046 7,555 9,184% of Member Rounds 2,906 3,638 5,025% of Guest Rounds 11,414 14,852 15,614% of Outing Rounds 1,770 1,829 1,490

Club Activity2018 2017 2016

Total # of Weddings 5Average Size Weddings 100# of Other Banquets 11Avg. Size Banquets 50-100# of Golf Outings 17# of Outings Booked for upcoming year/comments:

26 Outings Booked for 2019

COMPETITIVE MARKET

COMPETITIVE MARKET

FOR ADDITIONAL INFORMATION

Larry Hirsh, CRE, MAI, SGAPresidentGolf Property Analysts925 Fayette StreetConshohocken, PA 19428610-397-1818Larry@golfprop.comwww.golfprop.com