New owners of championship golf course committed to high standards

A championship golf site on the Sunshine Coast has new owners, who say they will “continue to maintain the quality condition of the course”.

The Peregian Golf Course was sold by Peregian Springs Golf Holdings to Chateraise Lakelands Golf Club Pty Ltd (Lakelands).

It was put on the market in November and its sale five months later followed a lively national expression of interest campaign, which attracted a number of offers from prospective buyers.

The property, which is zoned sport and rec, was sold for an undisclosed sum and will remain as a golf course.

A spokesperson for Peregian Springs Golf Holdings, of which developer Aveo is a major shareholder, said PSGH shareholders voted “overwhelmingly” to approve the sale last month.

“From the outset of the expressions of interest campaign we made it clear that a key consideration was the ability and intention for the purchaser to continue operating the golf course for the benefit of the local community,” the spokesperson said via a press release.

“Lakelands is an established owner and operator of golf courses in Japan and Australia and has shown a genuine commitment to maintaining the golf course operations.

“They have extensive experience owning and operating 18-hole golf courses, including the Jack Nicklaus-designed Lakelands Golf Club in Merrimac on the Gold Coast.

“This experience provides a great foundation for the ongoing operation of the Peregian Golf Course into the future.”

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The Peregian Golf Clubhouse.

Chateraise Holdings is a renowned Japanese dessert company, which creates and distributes sweets across Asia and Europe. It also owns more than a dozen golf courses, along with ski resorts and wineries.

Chateraise Lakelands Golf Club head of finance Yoko Bitar said the Peregian Golf Course was a “well-manicured and beautiful course”.

She said golf on the Sunshine Coast had enhanced the region as a “great holiday destination, for interstate and international tourists”.

Ms Bitar said the owners were intent on providing a great golfing experience at Peregian.

“We will continue to maintain the quality condition of the course and would like to keep the good relationship with members and residents,” she said.

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The Peregian Golf Course is within Peregian Springs.

The par-70 course is highly regarded. It has hosted several significant events during its 20-year existence.

The layout meanders its way through Peregian Springs and is surrounded by lakes, trees and housing.

It was designed by Phil Scott, the father of Masters champion Adam, and its build was completed in 2003.

The then-operator, Peregian Springs Golf Club Limited, defaulted on its lease and the course was closed in 2016, casting doubts about the venue’s future.

However, Golf Services Management stepped in and took over the running of it.

“Since that time, they have successfully overseen the club’s operations and course maintenance,” a Golf Holdings spokesperson has said.

GSM’s current lease is being transferred as part of the sale.

Ms Bitar said there were no current plans alter the course or clubhouse.

“We trust GSM will continue providing excellent operations,” she said.

Article source: Queensland Property Investor