The deal with Darwin Leisure was confirmed to The Scotsman by Bill Donald, the general manager at Loch Lomond Golf Club.
“It is a bit of a wrench as we have built Dundonald Links up, but we think Darwin Leisure can give the club what is now required, so we have decided to sell to for an acceptable offer of £4.5 million,” he said.
“It is purely an investment opportunity for Dundonald Links, which includes building a clubhouse and property as well.”
Under the deal, Loch Lomond members will continue to have playing rights at the Ayrshire course, which was designed by Kyle Phillips and was originally called Southern Gailes.
“Part of the agreement is that Loch Lomond members have the right to play at Dundonald Links, which was an important part of the deal,” added Donald.
“It is a very positive story. Dundonald Links has been a huge success for us, hosting three Ladies Scottish Opens and the Scottish Open once.
“It is profitable, having been turned around since we bought it. It is a viable, attractive purchase and that is a huge credit to all the staff both there and also here at Loch Lomond.”
Spaniard Rafa Cabrera Bello claimed the men’s Scottish Open title in the 2017 Scottish Open after beating Englishman Callum Shinkwin in a play-off.
Australian Rebecca Artis and Isabelle Boineau from France won the first two stagings of the Ladies Scottish Open at Dundonald Links in 2015 and 2016 respectively.
It then featured some of the world’s best players when South Korea’s Mi-hyang Lee won an event that was part of the LPGA in 2017.
Meanwhile, Donald revealed that significant investment is being undertaken at Loch Lomond, which hosted the Scottish Open for a lengthy spell before it started moving around the country in 2011.
“We are doing a lot of work here,” he said. “We are spending almost £12 million on sand capping the golf course and building new lodges. That’s where the members want to concentrate money being spent.
“Membership at Loch Lomond is full and we have a waiting list. The joining fee at the start was £40,000 and now it is £135,000.”