Eagle Ridge Golf Course for sale

Inside Golf | September 28, 2012 | 0 Comments

Eagle Ridge

Ever dreamed of owning your own championship golf course? Well, here is your chance.

One of Victoria’s finest public golf courses, Eagle Ridge on the Mornington Peninsula, is for sale.

Owned by the Russo family since 1995, the course has been put up for sale, as the family has decided to pursue other business interests.

The course is currently rated in the top 60 public courses in Australia and comprises 114 acres of prime Mornington Peninsula land with incredible views, all within one hour’s drive from Melbourne.

The sale includes an 18-hole championship course, clubhouse with ballroom and full commercial kitchen, 50 golf carts stored in purpose-built sheds, maintenance facilities and a BBQ pavilion.

Golf purists will appreciate the Santa Ana couch grass – widely regarded as the world’s best fairway surface – following a massive re-planting and overhaul project in 2007/08 to increase water efficiency and to provide an optimal playing surface.

Although offered for sale as a golf course and function centre with all furniture, plant and equipment, the site also allows for a wide range of alternative uses, including as a health spa (there’s access to natural thermal springs), through to serving as a premium private residence. There is also the opportunity for further commercial development on land adjoining Browns Road.

Eagle Ridge began its life as the smaller Carlogie Golf Course, but was transformed into a Kevin Hartley-designed championship course in December 1989. Owned by the Russo family since 1995, it has continued to be significantly improved and upgraded during the past seventeen years. Following the passing of patriarch Nick, the family has decided to part with the course to focus on other business interests.

Eagle Ridge Golf Course Principal, Andrew Davies, said: “Our family has loved having the course and we’ll be very sad to see it go.”“We’re inviting any prospective purchasers to come and play the course to really appreciate its qualities and the care and attention that has been invested. Seeing the facilities, playing the course and imagining being its next owner should be a pretty compelling proposition for most golfers,” Andrew said.

A series of funny videos has been posted online to raise interest from targeted sectors, each providing reasons why a golf course is a good investment – ranging from convincing your accountant to your spouse.

The videos, and a comprehensive description of the property, can be found at: www.ownagolfcourse.com.au

With most golf courses on council land, or owned through private clubs, the sale of a stand-alone golf course on freehold land is a rare event and one sure to attract wide interest.

Eagle Ridge will be sold via an expression of interest campaign, which closes on 16 November. The quoted price range of $7m-$10m is well below its estimated replacement value of $15m+. With most golf courses on council land, or owned through private clubs, the sale of a stand-alone golf course on freehold land is a rare event and one sure to attract wide interest.
More information: www.ownagolfcourse.com.au

 

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