Ashlar/ Stonecutters Ridge Swap Deal

[Scottt]

Stonecutters will likely follow the Riverside Oaks, Camden Lakeside, Horizons model and go through thre or four owners before it flourishes.

If Ashlar GC takes over, they'll need some serious membership $$$ to stay afloat, and I don't know how many people there are around Colebee/Riverstone/Rouse Hill and Blacktown who'll be able to pony up $3K a year.

Cumberland, which is the equal of Ashlar if not better is $915pa with no joining fee, there's Fox Hills just down the road and for those west of Colebee, Windsor and Riichmond are within 15 mins and less than $1000 a year (at last check, not much over $1K if they are).

It's a tough market.

[amanda]

This might sound a bit strange - but one of the main reasons they are building the golf course is to be able to sell land for more $$ than the surrounding area is worth
Decent houses with land are being sold in Dean Park just next door for $350k. Land at Stonecutters Ridge is likely to start at $350k.

[miro]

This might sound a bit strange - but one of the main reasons they are building the golf course is to be able to sell land for more $$ than the surrounding area is worth
Decent houses with land are being sold in Dean Park just next door for $350k. Land at Stonecutters Ridge is likely to start at $350k.

Amanda,

Thats is not strange at all, there is fair body of research on land prices located on or near golf courses and the premium that they have historically received. In rough terms (and this assumes my memory is correct and I am getting old so no guarantees) a block with golf course frontage will achieve around 35%-50% more than non estate lots (there has been some recent QLd based evidence that suggest premium lots achieiving 75% - 100% more than non estate lots), a lot in the estate (no golf views no frontage) will average 15%-20% above non estate lots.

The really interesting thing about this research is that it indicates only around 30% of people who buy in golf course estates play golf. Its more of a lifestyle/premium estate choice.

Given the broad house and land market out that way $350k plus will see limited short term interest in sales I suspect -however, I think that would be the case irrespective of price and hence I reckon their pricing sounds about right.

[Scottt]

Miro - spot on.

Look at Macquarie Links as an example.

Three minutes from Macquarie Fields, probably the most highly-publicised shit suburb in Sydney, you have this haven of "niceness" populated by execs and the like from companies in the south west, including the Ingleburn Industrial Estate just down the road.

There really is no chalk and cheese like Mac Fields and Mac Links, and I suspect Stonecutters will be much the same when compared to the suburbs that surround it.

[amanda]

Spot on about golf course frontage being more expensive. I'll be interested to see what the prices of other blocks are when the whole project officially launches in a few months.

[WeekendHacker]

More information has now been given out to groups of members attending information nights on a Wednesday.

Looks like it is going full steam ahead. Due diligence is nearly complete and the developers and the Ashlar board are talking on a weekly basis. There is currently a valuation of the Ashlar land underway and the board envisages that this will be finished in the coming week or so. The council is doing land valuation at the new course as well so all parties will know what is worth what. They are aiming to have a members vote in July so it is gathering pace now.

Ashlar has met with the architects who will be designing the club house so that we have full input into the layout etc of the new club.

The deal proposed will be a turn-key swap. Ashlar closes the doors on the Sunday and reopen on the Monday at a new course fully kitted out. This will include all clubhouse fitout inclusive of furniture, bar equipment, computer equipment and all green keeping equipment. The only thing Ashlar will need to relocate will be the poker machines.

Feeling so far from the focus group meeting is that the majority of members are for the move with a very small minority opposed so hopefully, fingers crossed, Ashlar will be on the move.

[amanda]

Thanks WH for the update!

Just a general question - what is the female golfing membership like at Ashlar? Mainly the blue rinse set? Are they very narky?

[WeekendHacker]

Thanks WH for the update!

Just a general question - what is the female golfing membership like at Ashlar? Mainly the blue rinse set? Are they very narky?

Ashlar does not really have a very large female membership. Most of the females are in the 35 - 45 year age bracket and most of them play Saturdays.

[mikezone13]

My mate just signed up there to try and get on board if the mvoe happens. Are they taking lots of new members on because of this?

[WeekendHacker]

My mate just signed up there to try and get on board if the mvoe happens. Are they taking lots of new members on because of this?

not really. 10 new members in the last 2 months. Once the members vote is announced they will close off the no joining fee and all new members from then on will have to pay $5,000.00 joining fee. This fee will then flow over to the new course.

[mikezone13]

not really. 10 new members in the last 2 months. Once the members vote is announced they will close off the no joining fee and all new members from then on will have to pay $5,000.00 joining fee. This fee will then flow over to the new course.

Is it worth joining up at Ashlar now then, how good is this other track going to be and when is it supposed to open?

[Scottt]

I read that Stonecutters won't be open until 2010.

[WeekendHacker]

Is it worth joining up at Ashlar now then, how good is this other track going to be and when is it supposed to open?

Probably be a good opportunity and the course will be fantastic when opened in May 2010. They have already booked Norman for somewhere in May 2010 to hit the first ball off the 1st tee.

[Grunt]

If we all joined there we could stop at Amanda & Brad's place for refreshments. It is by the 7th Tee isn't it?

[amanda]

Grunt - 8th tee! Brad's even planning some sort of tucker box built into the fence complete with esky, cold drinks and snacks

[Grunt]

Grunt - 8th tee! Brad's even planning some sort of tucker box built into the fence complete with esky, cold drinks and snacks

Even better you could get some paid labour to cook fresh for us as it is a good half way house option.

[Andrew]

Grunt - 8th tee! Brad's even planning some sort of tucker box built into the fence complete with esky, cold drinks and snacks

So, you are saying you don't want us in your house.

[amanda]

Happy to have everyone in the house after the game!

We don't want to slow down play

[Humphrey]

Ashlar has met with the architects who will be designing the club house so that we have full input into the layout etc of the new club.

Have you seen the prliminary drawings for the new club ????? BORING
What about a big deck overlooking the 18th green, so you can have a beer and something to eat outside. Wasted opportunity if nothing like that is done in my opinion.

[Scottt]

The plan in the clubhouse at Ashlar does say "first draft" so I would take the design with a grain of salt.

[WeekendHacker]

The clubhouse will have decks that overlook the course. The initial drawing in the club is a first draft and and such is more about getting the input to see what can be fitted in to the space that UPL are allowing for the clubhouse.

[amanda]

Oohh - sounds interesting - as owners we haven't seen any plans for the clubhouse yet.

The plan was to have function room, gym, change/locker rooms, creche as well as all the other facilities (2 swimming pools, tennis courts etc)

[Scottt]

The latest from the local paper: http://www.blacktownadvocate.com.au/...2220_news.html

[WeekendHacker]

Oohh - sounds interesting - as owners we haven't seen any plans for the clubhouse yet.

The plan was to have function room, gym, change/locker rooms, creche as well as all the other facilities (2 swimming pools, tennis courts etc)

Not too sure as to when and if owners of land will see the plans prior to final version. The golf course and its facilities will be on a seperate land title to the housing development and from talks with the club it looks as though the board and members of Ashlar will have the say in the layout etc of the club.

It will include 3 function rooms that can be opened up into a single area if needed, a full gym, pool, 2 - 4 tennis courts and the driving range. Ashlar would most likely lease out the gym and pool area to something like a Fitness First or the like as they have management experience in this area.

[Grunt]

Careful just hope the guys that run Mac Grange don't hear of this. They are supposed Gym managers.