A luxury golf club and hotel is set to shut for two years after a company owned by an Indian billionaire reportedly bought it for £57 million.

Stoke Park – which hosts the Boodles annual tennis challenge and is a film set favourite for movie-makers – is closing for “essential restoration” works until summer 2023.

It comes just months after Reliance Industries Ltd, an Indian multinational conglomerate company controlled by billionaire CEO Mukesh Ambani, bought the prestigious South Bucks estate for a reported £57 million earlier this year.

There have been rumours circulating online that Mr Ambani might be planning to turn the palatial mansion, which sits in a 300-acre estate, into a private residence, but Stoke Park “categorically confirm” that it will reopen to members after its restoration.

Stoke Park is Reliance’s second UK acquisition after acquiring Hamleys in 2019.

A spokesman for the estate said the company is planning to create a “world class members club” that will reopen when the work is finished and have agreed a 10-year extension of the Boodles tennis event.

The hotel and health club will shut fully from August 2, while the golf club and estate will shut on October 18 when the golf membership year ends – after which the restoration work will start.

Because the club is temporarily closing its doors, the workforce is being “scaled down” – and Stoke Park says its outgoing staff will be “properly compensated”.

The move to shut Stoke Park, which has been featured in two James Bond movies (Goldfinger and Tomorrow Never Dies), Bridget Jones’s Diary, Wimbledon and Layer Cake among others, has reportedly angered members of the golf club, who pay thousands of pounds to play there.

The estate has a recorded history of more than 900 years. It currently hosts a five-star hotel with 49 rooms, three restaurants, bars and lounges, a spa and country club. It regularly hosts weddings and plush events.

A spokesman for Stoke Park said: “The new owners of Stoke Park, Reliance Industries Limited, are making a major investment into the estate and are committed to preserving Stoke Park’s rich heritage.

“Reliance are honoured to be the fifth owners and custodians of Stoke Park since it became the first UK’s country club in 1908 and are committed to investing in its future and the local community.

“With every new owner comes a responsibility to progress and future proof the success of the business.

“The new owners of Stoke Park have been clear that they wish to restore the club to its former glory, protect its history and create a club members will be proud to be a part of.

“Members are the beating heart of the club and its community and we look forward to welcoming them after the planned restoration work.”

In reference to scaling down their workforce, the spokesman added: “The club will remain non-operational until the anticipated reopening in 2023, resulting in the business scaling down its workforce whilst the restoration takes place.

“Stoke Park will support outgoing staff members to ensure they are properly compensated for their dedicated service to Stoke Park.

“Reliance are committed to creating a significant amount of jobs both during the restoration project phase and after the reopening.”

Mr Ambani, 64, is the 10th richest person in the world as of June 7 this year. According to Forbes, he is the richest person in Asia with a net worth of $86.4 billion.