Golf club goes to auction
Bank forecloses on 18-hole course
The Pembroke Country Club is going on the auction block.
The 18-hole golf course and banquet facility on West Elm Street is being foreclosed on and is scheduled to be sold to the highest bidder tomorrow. The sale will include all of the equipment and furniture on the property, as well as the club's liquor license.
"Everything's included," said Charles A. Young III, a lawyer who represents the mortgage holder, Norwood Cooperative Bank.
The looming sale of the club has left local golfers wondering about the fate of the club's tree-lined fairways.
At one point, the town of Pembroke considered buying the country club and making it a municipal golf course. Officials started looking at this option in fall 2007, when they heard developers were looking at the property as a possible site for a 40-home subdivision. That November, Special Town Meeting appropriated $15,000 to study the feasibility of the town owning and operating the course. The town even had an appraisal done and made an informal offer, according to Town Administrator Edwin J. Thorne.
"That was a year ago," said Thorne, in a telephone interview on Monday. "Now we have a foreclosure auction by the bank. I don't know what's going to happen. I don't know what to think right now . . . the market is so flat. Our interest is keeping it as a golf course - I don't know how, but that's our interest."
Reached by telephone last Wednesday, Russell Grabau, the owner of the Pembroke Country Club, declined to comment.
Young, the bank's attorney, also declined to discuss details of the club's financial woes. "I don't know what the problems are for the owner," he said. "Obviously, the mortgage is not being paid."
The public auction of the 166-acre property is scheduled to start at 11 a.m. tomorrow. The real estate includes the 150-acre golf course, and three smaller parcels adjacent to the country club, on Dwelley Street, West Elm Street, and Oldham Street.
The golf course and country club buildings are assessed at about $5.28 million, according to town records.
The winning bidder must pay a $350,000 deposit (by certified check or cash) up front, and the balance within 30 days.
The Pembroke Country Club is open to the public and serves as the home course for Pembroke High's golf team. It features a driving range, clubhouse, pro shop, and two-story function hall that is rented out for wedding receptions and private parties.
The club has long been the site for fund-raising events for local causes and charities, such as the Pembroke Education Foundation and South Shore Habitat for Humanity.
When Pembroke High golf coach Paul Consolati found out about the auction earlier this week, he wasn't surprised. There had been rumors floating of a possible sale over the past couple years, he said.
"As a coach, I'm concerned," said Consolati. "We have a lot of great memories there. As a team, we hope we can continue to play at Pembroke [Country Club]."
"Hopefully, it falls into the right hands," said Consolati.
Richard Fedor, the head professional at the Pembroke Country Club, has golfed at the course for 20 years, and hopes to work and play there for years to come. He plans to attend tomorrow's auction, which will be held inside the clubhouse at 94 West Elm St., to see what happens.
"We'd all like to see it continue as a golf course," said Fedor. "We have a love for this place."
Emily Sweeney can be reached at esweeney@globe.com. 