Yesterday’s confirmation that US property tycoon Donald Trump had succeeded in buying a slice of golf’s most historic tournament with his £35.7 million acquisition of Turnberry will cause dismay amongst golfing traditionalists, but raise a cheer amongst most golfers.

Turnberry’s undulating Ailsa links overlooking the Firth of Clyde, famed for staging the ‘Duel in The Sun’ between Tom Watson and Jack Nicklaus in 1977, is one of just nine courses on the Open roster which is owned by a private company.

The course was sidelined for fifteen years, however, as the R&A felt it suffered from infrastructure problems which were the main reason why it attracted relatively poor crowds to its blue riband event.

Before Tuesday night’s deal was concluded, however, it appears that Trump insisted Turnberry was confirmed as the venue for the 2022 Open.

The larger-than-life mogul has already secured several other US golfing venues capable of hosting major tournaments and Turnberry’s acquisition brings his impressive golfing portfolio to sixteen courses and resorts.

The Doral Resort and Spa in Miami, which Trump bought for £88 million in 2012, is home to the WGC Cadillac Championship and understood to be under consideration as a probable US PGA Championship venue in the near future.

Either of his two courses in New Jersey could conceivably host a US Open.

Trump’s involvement in golf is not perceived as having a negative impact upon the sport.

He spent almost £150 million on overhauling Doral after rescuing it from bankruptcy to create a spectacular environment and it’s fair to say that when it comes to investing in his portfolio, the man doesn’t skimp.

Of course, he let’s you know it too. According to the Trump Golf website, his company is now “the foremost golf course developer in the world… committed to creating the finest portfolio of award-winning courses (and offering) a new level of challenge, luxury, service and performance that have become synonymous with the Trump Golf experience.”

If his purchase of Turnberry is seen as part of a strategy to secure a longer-term involvement in major championships and he invests in courses with the same levels of enthusiasm that has been a feature of his golf investments to date, it would be difficult to portray him as an ogre.

Yet perhaps the most remarkable feature of the Turnberry deal is the price Trump paid.

The course, plus the famous lighthouse, were bought six years ago by Leisurecorp, an investment subsidiary of Dubai’s sovereign fund, for £52 million.

In addition to the Ailsa course, Turnberry consists of two additional golf courses, a five star Edwardian hotel plus other accommodation. Leisurecorp spent £39 million renovating the hotel, lodges and cottages within the complex, which means that they’ve lost more than £55 million on their deal with Trump, a staggering erosion of value in such a short period.

That Leisurecorp were prepared to accept such a huge loss on their Turnberry investment has caused a few eyebrows to be raised, particularly as the organisation has such close links with the European Tour.

The tiny emirate has been badly affected by the global financial crisis and although it remains committed to developing longer-term golfing partnerships, it could be a decade or more before it can afford to embark on a shopping spree for high-profile, sport and leisure-based assets.

In the meantime, The Donald has secured himself an iconic property at a deeply-discounted price.

Any risk associated with the Turnberry deal was significantly reduced once confirmation of its Open status was confirmed and we can expect the Trump organisation to capitalise upon Turnberry’s status and kudos, maximising the return on investment.

The key to Trump’s successful accumulation of golf properties has been simple: his motto is ‘buy quality’, an approach which suggests he may not be interested in acquiring any one of the dozens of golf clubs currently up for sale.

“Take a two-minute browse online and you can find handsome-looking examples of well-maintained golf courses and clubhouses for sale,” says Thomas Leask, director of European sales at TLL Golf.

“We have par-72 courses in Wales available for £550,000, while the owners of an 18-hole course plus a 25-bedroom hotel in Cumbria are prepared to accept offers around £750,000 for their freehold interest. I’m not sure Donald Trump would be interested in either.”

Mr Leask is right.

Most UK clubs have suffered a dispiriting combination of recession, bad weather and, significantly, lifestyle changes, which have succeeded in decimating formerly robust revenue streams. The days when golf clubs kept prospective members’ names on a waiting list for years have long since disappeared.

Drive past most clubs nowadays and you will see banners declaring a warm welcome for new members; joining fees are a thing of the past as every club bends over backwards to accommodate fresh blood.

The building boom of the 1980s ensured that too many golf clubs were developed at the same time.

For a while, there were enough golfers to go around. However, a combination of demographics (the average age of golf club membership has risen over the past two decades) and a prolonged spell of severe belt-tightening has sounded the death knell for golf clubs across the land.

“There’s a glut of golf clubs available to buy,” reckons Mr Leask, “but this is not the case at the top end of the market.”

He means the end that interests Donald Trump, private, invitation-only clubs boasting personal services such as valet parking and club preparation, luxury amenities and an attention to detail that would shame most five star hotels.

“Properties at the upper end of the market are snapped up,” says Mr Leask, “because few have encountered the sort of difficulties your local club may have faced over the last six or seven years.

“I wouldn’t expect this to change anytime soon.”

The key to being a successful investor is, as Warren Buffett may say, to buy when others are fearful. Trump has excelled at this strategy, although he’s added his own line: ‘and focus solely on quality assets’.

The approach has served him well and, having bought Turnberry at a bargain price, it appears likely to present him with his sought-after major championship much sooner than he may have anticipated.