Golf Course

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The Noosa Par 3 Golf Course in Sunshine Coast’s Noosaville has been re-listed for sale.
The <a href="https://www.commercialrealestate.com.au/property/noosa-par-3-golf-course-noosaville-qld-4566-2015516986" target="_blank">30 hectare Hollett Road property</a> includes a 36 hole golf course, two residences and a clubhouse with a restaurant and bar.
It is being marketed by Ray White Commercial Noosa and Sunshine Coast North Property Consultant Louisa Blennerhassett and Paul Butler.
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Blennerhassett said the Noosa Par 3 Golf Course was a popular course with both locals and tourists alike. 
“The options are varied on this property. You can continue and grow the current business, land bank, develop, or even build your own private oasis,” she said.
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The Golf Course is located about five minutes to Noosaville and 10 minutes to Noosa Heads and Hastings Street.
“It borders Lakes Entrance residential estate and is adjacent to a future 52 lot rural residential subdivision,” Butler said.
The expressions of interest campaign for the property closes on September 23. 
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j.ballantyne1990-6AQqhLzZaK

Noosa Par 3 Golf Course hits the market

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SPONSORED POST
Private golf courses across Melbourne are experiencing a change in demographics and player participation, with more than half of all Victorian golf clubs in financial stress yet occupying land potentially worth hundreds of millions of dollars, according to one commercial property expert.
The changes affecting the future of golf have the potential to create a rapid shift in golf course land use, as metropolitan land values continue to rise and golf courses occupy huge areas of residentially zoned land, often in established locations.
Savills Australia’s Clinton Baxter envisages numerous golf courses will opt to sell their landholdings for huge windfalls to compensate for dwindling revenues and rising operating costs.
“Melbourne’s golf courses are an incredible source of land wealth, making them susceptible to closure and redevelopment,” he said.  
“Without the proper planning framework in place, the potential loss of local amenity, open space, and opportunity for long-term public benefit is very real.
“At some point, the value of the land for a single-use sport with limited players must put pressure on the sustainability of the club.”
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Mr Baxter referred to the 2017 Planning for Golf in Victoria discussion paper prepared by the Victorian state government, and cited the urgency of the issue in light of population pressures and escalating land values.  
Several clubs have already elected to sell up, including The Eastern Golf Club in Doncaster for $100 million to Mirvac in 2011, which was relocated to Yering in the Yarra Valley. Other clubs to sell have included Kingswood in Dingley, Croydon Golf Club to Australand in Croydon, and Kingston Links in Rowville.
“All of these sales were as a result of pressure from developers and declining memberships,” Mr Baxter said.
Examples of the immense potential value of the land occupied by private golf clubs include Riversdale Golf Club at Mount Waverley, which sits on 130 acres of General Residential-zoned land and could be worth upwards of $300 million; and Victoria Golf Club in Cheltenham, which sits on 143 acres of General Residential-zoned land and could be valued at more than $400 million. 
“Many other public courses are currently zoned for public use but would be worth huge amounts if rezoned,” Mr Baxter said.
An example is Brighton Public Golf Course, which sits on 85 acres and could be worth upwards of $250 million if rezoned for residential development.
“We recently sold a 38-acre former orchard in Wantirna South for almost $100 million,” Mr Baxter said.
“Almost all of Melbourne’s golf course landholdings are far larger, better located, and vastly more valuable – developers would be chomping at the bit to access such sites and develop them for high-density housing.
“There are squillions of dollars to be made in developing such land, and golf clubs would reap huge wealth by selling to developers.”
Mr Baxter said this raised the question as to whether the Victorian planning minister and related authorities should pre-empt a transition in the sport of golf, and step in and rezone private golf courses for public use, in order to prevent Melbourne’s suburbs from losing their parks and green areas.
“There is an opportunity for planning authorities to get the right balance of public use and residential-zoned land before a major potential sell-up of golf courses takes place,” he said. 
“It may be appropriate to review the land currently occupied by golf courses and put measures in place that ensure the land is allocated to best serve the needs of a rapidly growing Melbourne, well into the future.
“We want to see Melbourne’s renowned liveability retained, and ensuring major green open space for future generations remains intact is one such way to retain our global standing – it can be a legacy for future generations.”
Mr Baxter said similar pressures were building on other sports clubs with declining memberships, and highlighted lawn bowls clubs in key locations as an example.
 Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Clinton Baxter is State Director of Savills CBD and Metropolitan Sales. To learn more about Savills, visit <a href="http://www.savills.com.au/" target="_blank">savills.com.au</a>.
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jrobinson-rf4aSBido9

Pressure mounts to assess the future of golf course land: Savills

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A new land release of 34 blocks at The Hermitage, Gledswood Hills is taking registrations of interest.
The Sekisui House project is adjacent to a Greg Norman signature golf course, which is set to open in 2020.
The release includes lot sizes ranging from 450 square metres to 629 square metres, with prices starting from $463,000.
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The masterplan for the community includes more than 150 hectares of green open space, including dedicated parklands and 27 holes of golf among the total 307-hectares.
There is also a proposed mixed-use precinct which would include a grocer, cafés, swim school, healthcare, Country Club and restaurants.
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Craig Barnes, Sekisui House Sales, Marketing &amp; Customer Relations Manager, Development &amp; Communities said that initial interest from prospective purchasers has been strong, with several hundred expressions of interest already registered.
“I don’t believe that there has been such a distinguished or exclusive “vacant land” offering delivered to the Sydney market in recent times and the initial response from prospective purchasers tends to indicate the same,” said Barnes.
“Gledswood Greens offers an unsurpassed opportunity for land purchasers looking to reside in an idyllic and peaceful environment, with convenient access to a broad range of facilities.
“Whether an avid golfer or not, the adjacent future Greg Norman signature golf course provides the ultimate back drop for future residents.”
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Sekisui House release new land at project next to Greg Norman-designed golf course

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A contemporary golf course home at Sanctuary Cove has been bought by retired corporate executive David Baird and his wife Marion for $6.5 million.
The Queensland vendors Michael and Michelle Cowling built the home 18 months ago, selling as they are moving onto a new project within Sanctuary Cove.
The 1,800 sqm block of land with 80 mesold at $1.53 million in March 2015, having sold initially by Mulpha at $1.45 million in 2005.
In the interim, the block had sold at $1.65 million in 2007 and $1.7 million in 2011.
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The north facing property has 80 metres of course frontage.
The Bairds bought the house on their first inspection just before it hit the market, Ray White agent Matt Gates advised.
The previous golf fronted record price stood at $4.275 million when 2218 Arnold Palmer Drive, Sanctuary Cove sold last year.
The Bairds recently sold their home on the Isle of Capri for $8.8 million.
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Sanctuary Cove golf course home sells at record $6.5 million

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The Tallwoods Golf Course on the northern side of Blackhead Road in the mid north coast of New South Wales is on the market.
The 18 hole golf course at <a href="http://www.colliers.com.au/96003/" target="_blank">61 The Boulevard, Hallidays Point</a>, has been designed by Dr Michael Hurdzan, one of the world’s leading environmental golf course designers.
It has a Par 72 course which is 5,508 metres in length.
The club is on 69.292 hectares of land predominately zoned RE2 Private Recreation.  There is also a casual tenancy to Hallidays Point Health and Fitness.
There is a Development Consent in place for a 21 tourist-style dwellings  The property was for sale by expressions of interest campaign which closed on September 21. No further details are available yet.
The buyer has the opportunity to develop a medium-density on the site.
The total land area is 72.427 hectares approx.
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Tallwoods golf course in NSW Mid-North Coast up for sale

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Ocean Dunes, the golf course on King Island in Bass Strait, has been listed for sale.
Colliers International's Guy Wells and Comac Property Group's Paul Mason have been appointed to broker the Bass Strait property. Offers close December 6.
<a href="http://www.colliers.com.au/162029/" target="_blank">The golf course</a>, ranked fourth best in Australia by Golf Australia magazine, was developed by a group of Victorian-based investors and golfing enthusiasts.
The 18-hole course includes the King Island hotel. The 190-hectare property includes a site next to the course set aside for further development.
It comes with a permit to develop 21 motel suites.
The Cape Wickham Golf Course on King Island was bought by a Vietnam-based investor for $16 million earlier this year.
The Cape Wickham course was ranked the 24th best golf course in the world by Golf Digest in 2016.
It was put up for sale by Australian Ratings (now Standard &amp; Poor's Australia) founder, the property developer Duncan Andrews.
The buyer is a company called Cape Wickham Golf Links Pty Ltd, is wholly owned by Ekaterina Kolmakova from Hanoi in Vietnam.
The sole director of the company is Sydney-based Richard Nebauer, the Australian Financial Review noted recently.
Cape Wickham, which opened in October 2015, was a collaboration between US architect Mike DeVries and Australian golf writer Darius Oliver.
King Island, is a forty minute flight from Melbourne, set between Victoria and Tasmania.
It is renowned for its fresh produce and increasingly its world standard golf courses.
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Ocean Dunes golf course listed after earlier King Island sale

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Tamworth's golfing complex The Longyard Golf Course on Greg Norman Drive, Hillvue is on the market with a price guide of around $11 million.
The facility, on the market by Dromahair through Savills Australia features a total land area of 66.31 hectares and includes an 18 hole Greg Norman/Bob Harrison-designed Golf Course considered on of the top 10 public access courses NSW), a Pro Shop &amp; Golf driving range, Thorny’s Putt-Putt (with two x 18 hole courses and children’s fully fenced play area) Golf club house, conference room;,manager’s residence and the Windmill Tavern (with approval for 20 gaming machines).
There property features two substantial development sites of circa 8 hectares each with one site already contracted to a developer to build a 115 Villa retirement village.
The golf course owner will retain 16 percent profit share of the retirement village and the other site is suited to additional accommodation uses - suited for approximately 60 villa/townhouse sites (STCA) depending on design.
Three townhouses on surrounding land are included in the sale and comprise 2 x 4 bedroom, 3 bathroom townhouses and a 1 x 2 bedroom, 1 bathroom townhouse. Two of the townhouses are currently rented for a combined rental of $1100 per week. There is scope to rent the last townhouse for approximately $300 per week.  
Nic Simarro, Savills Hotels Senior Sales Executive, this mixed use site presents an exciting opportunity to purchase a development opportunity with a holding income generated from a strong trading golf course and tavern.
“An investor/developer has an opportunity to capitalise on additional profit streams from subdivision and development of two x 8 hectare (minimum) parcels of land, with additional potential for on-course guest accommodation” he said.
The Longyard Golf Couse is for sale through Savills via an Expressions of Interest campaign closing 4pm Friday 29 September 2017.
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jonathanchancellor-7SQnKwU6yx

Tamworth golfing complex The Longyard Golf Course on the market

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A substantial site in Wollongong for which Visionary Investment Group planned a Greg Norman-designed 18-hole golf course and housing has been rejected by the local council.
The matter is now on appeal before the Land and Environment Court.
VIG had sought to create create 105 residential lots on the site to form an integrated resort on the 187-hectare site on Avondale Road in Avondale sub-division, The Australian Financial Review reported.
However, the Wollongong City Council rejected it because of "environmental impact, traffic and planning concerns”.
VIG declined to comment in detail due to court action but said it was "fully committed to long-term investment in the Illawarra region".
"Our integrated resort development would not only showcase the best that the region has to offer but more importantly bring employment and long-term sustainable economic growth to the region, especially in tourism, hospitality, retirement and other services sectors," VIG chief executive Michael Guo was quoted by the AFR as saying.
"We will continue working with the community, council and all stakeholders to make our integrated resort development the true pride of Illawarra."
VIG had worked on Avondale for several years, reflecting a trend for developers turning towards masterplanned communities and house and land development, as the apartment prices cool in Sydney.
Wollongong is also popular because of its access to a university and growing economy.
In fact, a BIS Shrapnel report found sometime back that <a href="https://www.urban.com.au/news/43786-newcastle-wollongong-soaking-up-sydney-market-stragglers-bis-shrapnel-2018" target="_blank">Wollongong was beating Newcastle</a> in attracting potential property buyers priced out of the Sydney market, with Wollongong's vacancy rates falling and the median house price rising by 14% in 2014/2015 according to The BIS Shrapnel Residential Property Prospects 2015 to 2018 report.
 Last year, Visionary Investment Group had also announced the arrival of <a href="https://www.urban.com.au/expert-insights/investing/55511-visionary-bring-silkari-to-australian-hotel-market" target="_blank">hotel and residential brand </a><a href="https://www.urban.com.au/expert-insights/investing/55511-visionary-bring-silkari-to-australian-hotel-market" target="_blank">Silkari</a> with the launch of three properties.
 
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Visionary's plans for Greg Norman-designed golf course and housing project rejected by council

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Geoffrey Stackhouse and his wife Helen have listed their Roseville home, a recently renovated 1968 house designed by Smith and Thompson Architects.
It is one of only six houses with Roseville Golf Club course frontage and one of three with direct private access to the course.
Nicole Robertson of Bresic Whitney, describes it as a classic mid-century home with extensive renovations doing its history justice.
Blackbutt timber decking and landscaped gardens with built-in seating wrap around the property overlooking the surrounding bushland which were much admired by Geoffrey's mother, Shirley Stackhouse, the veteran gardening writer.
The sprawling home features a split-level design with expansive windows throughout made of natural materials such as wood with sandstone. 
There's a drawing room, soundproofed teenagers retreat, gym and a saltwater swimming pool.
A cave-style wine cellar was built by the current owners and features sandstone slabs and 500 bottle storage.
The sale comes with approval to combine a further two rooms into another master suite.
The June 3 comes with a $3.1 million price guide. It sits on an 860 sqm parcel, originally part of a subdivision of Roseville Golf Club. 
This article first appeared in the Sunday Telegraph.
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Geoffrey Stackhouse lists renovated 1968 Roseville trophy home

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The Fairway Residences development on Sydney's Strathfield Golf Course is 75 percent sold out, with town homes slated for completion late 2017.
The development, 88 Centenary Drive, Strathfield, features 50three and four bedroom town homes priced from $1.6 million.
Phil Leahy from Metro property Development said a lot of uptake in the three bedroom plus study designs has been from families and young professional couples. 
“There’s also the added bonus of being within close reach of transport links, shopping centres, parks and schools,” he said.
Metro has sold 37 homes, with 13 homes still on the market.
The remaining homes are priced from $1,650,000 to $2,099,000.
The sales office has been relocated to 1 Cave Road, Strathfield, and is open from 1pm to 5pm Wednesday, Saturday and Sunday. For more visit <a href="https://www.fairwayresidences.com.au/" target="_blank">www.fairwayresidences.com.au</a>.
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