Gold Creek development proposal

[dunteachin]

It seems the owners of Gold Creek Country Club have put in an application to split the land into two parts. One part would be the golf course, the other the clubhouse, pro shop and other buildings. I think the 3 practice holes would be included in the non- golf course part. Allegedly this would allow the owners to sell the freehold of the buildings to the current residents (eg, gym, pool, restaurant) and recoup some of the money they have put into the course. They re also talking about putting in a new sporting complex with squash, indoor cricket, etc.

Previously the owners tried to get a motel/ accommodation complex approved but were unsuccessful. Local residents have organised a meeting to oppose the development citing reduced house prices, etc.

I'm a bit confused being a new member. I've got no problem with the owners making money as long as the course doesn't suffer as I am enjoying the challenge of mastering a really good golf course.

Anyone else have experience with this sort of thing or have opinions?

[WBennett]

There is a block near the 16th green that could be developed. There is room between 15 and 16.
Its a grab for cash by the rich blokes who already have more money than god

[Jerry Springer]

The proposal IMO will kill off the golf club. Course maintenance eats cash at an alarming rate, and whilst partially offset by member subscriptions, only a well run club with plenty of cash over the bar in drinks, food and well run events can hope to stay afloat.

If the clubhouse is sold to another entity, leaving the just the golf club on it's own with only green fees and subs as income it's going to struggle, given the course runs at $500k loss at the moment (according to their statement).

[WBennett]

There is a back story to Gold Creek... SMS can confirm this.

It was developed about 95 and went belly up within a couple of years.
The ACT Govt bought it for around $1m and ran it for about 7 or 8 years.
It was sold to the Kondouris group for $3m, who own Club Lime, Cisac, Supabarn and half the commercial property around Canberra.

They put in the child care centre, Let's Play and the Aquatots swim school and the pizzabar/cafe as alternate revenue streams. They are yet to make the clubhouse a viable concern as the clubhouse is poorly patronised by the players and local community, the cross subsidisation will never occur.

The course is ALWAYS going to cost money to maintain - and it seems they are sick of pumping in the extra $ when the course can't pay for itself.

We are a little luckier over the ridge - The Lakes has 400 pokies paying for everything and even then our club is allegedly feeling the financial pinch.

[Marto65]

There is a block near the 16th green that could be developed. There is room between 15 and 16.
Its a grab for cash by the rich blokes who already have more money than god

Bloody Right Wing deviants making money!!

[mrbluu]

There is a back story to Gold Creek... SMS can confirm this.

It was developed about 95 and went belly up within a couple of years.
The ACT Govt bought it for around $1m and ran it for about 7 or 8 years.
It was sold to the Kondouris group for $3m, who own Club Lime, Cisac, Supabarn and half the commercial property around Canberra.

They put in the child care centre, Let's Play and the Aquatots swim school and the pizzabar/cafe as alternate revenue streams. They are yet to make the clubhouse a viable concern as the clubhouse is poorly patronised by the players and local community, the cross subsidisation will never occur.

The course is ALWAYS going to cost money to maintain - and it seems they are sick of pumping in the extra $ when the course can't pay for itself.

We are a little luckier over the ridge - The Lakes has 400 pokies paying for everything and even then our club is allegedly feeling the financial pinch.


Maybe they need a couple of extra pokies to pay for cutting the greens....

[WBennett]

Bloody Right Wing deviants making money!!

I've got no problem with them making cash - they already own half the enterprises in Canberra. When the group took over Gold Creek knowing that it had always struggled financially, and were given planning approval to 'widen the revenue base'.

Now that all initial development has been completed, they are threatening to close down other bits and pieces which were against the spirit of the initial sale.

In the ACT, everything is leasehold, not freehold. Will be interested to see what happens with this.

[WBennett]

Maybe they need a couple of extra pokies to pay for cutting the greens....

Greens were spot on yesterday - a little slow but rolled well. You got them at the worst they had been in months.

They are now doing a poa removal project on a couple of holes.

[mrbluu]

Greens were spot on yesterday - a little slow but rolled well. You got them at the worst they had been in months.

They are now doing a poa removal project on a couple of holes.

In that case, thanks for the invite :mrgreen: