Browsing Golf Industry NewsVIEW ALL

Auckland Council golf courses a potential $2b-plus development opportunity

POSTED ON July 10, 2018 @ 4:47 pm

The ownership of Auckland Council’s 13 golf courses is back in the spotlight with their fairways, greens and bunkers worth more than $2 billion if they went on the open market for development.

Auckland’s councillors are being called to a workshop behind closed doors on July 25 to be briefed on future plans for 13 council-owned golf courses where half of the leases are due to expire between 2021 and 2026. Other courses have leases running until 2094.

And a report from the council late last year points out that land used for golfing “can be better utilised [from a wider community benefit perspective] than in their current state”.

“The Auckland region currently has 23 golf courses with Auckland Council being the largest investor in this sport. Auckland Council has an opportunity to reconsider its rationale for continuing ownership, particularly given the presence of well-functioning privately operated golf courses.”

The council gave 43.65ha Takapuna golf course as an “illustrative example” of where the land could be reshaped and allow for affordable housing and public parks while still allowing a playing course.

It referred a $300m development in Albany where 800 mid-rise units were planned for a 2ha area.

“This indicates that a significant number of mid-rise units can be achieved whilst still providing golfing facilities and plentiful open space to the wider community,” the report said.

This list of council-owned courses appeared in a document on the 10-year plan.
This list of council-owned courses appeared in a document on the 10-year plan.

The council report cites a study carried out in 2015 by investment bankers Cameron Partners which listed the “alternative use value” of the 13 golf courses as $2.1b.

Remuera is the city’s most valuable council-owned course by far, its 63.6ha valued for rates at $22.5m but $517.1m by Cameron Partners as an “alternative use value”. But its lease doesn’t expire till 2091, making it the most inaccessible potentially.

The 32.3ha Chamberlain Park is second-most valuable, listed as $315.6m as Cameron’s alternative use, followed by the 73.5ha Pupuke at $307.2m, 43.7ha Takapuna at $229.7m and 19.2ha Waitemata at $212.2m

Last month the High Court ruled against a group opposing new uses for part of the Chamberlain Park course and in favour of park users. Golf is planned to be retained there but other recreational uses are planned as well.

Golfing provides reportedly 749 full time equivalent jobs for Aucklanders.

 SOURCE: NZ Herald

Comments are closed.


CLICK HERE TO Sign Up for the GIC Newsletter for all the latest Industry News.

Grow the Game Central Golf Recruitment Central Golf Marketing Central

Shortland Waters GG sold to retirement village developer for...

Shortland Waters Golf Club members say they feel “dudded”...

New report gives insight to millennial engagement in golf cl...

GolfWA identified some time ago that there was...

Troon adds Cape Wickham Golf Links to its portfolio...

Troon has announced today its latest collaboration with Cape Wickham Golf Links, Australia’s premier golfing destination on King Island off the north-west...

Longyard golf course development plans blocked by council...

TAMWORTH Regional Council has stopped a $6.25 million over-50s village from being built around the Longyard golf course. Councillors voted unanimously to...

SEEK: Inclusive Golf Coach – Empower Golf...

Part Time Position : Inclusive Golf Coach Empower Golf is Australia’s premier multi disability inclusive golf organisation, with it’s office located in...

Retirement village at Pakuranga Golf Course, NZ, will be fairway ...

Residents of a “boundaryless” retirement village to be built on the edge of an Auckland golf course will be able to stroll directly...

Suzy Whaley Elected 41st President of the PGA of America...

PGA Master Professional Suzy Whaley was elected the 41st President of the PGA of America today at the Association’s 102nd Annual...

Gary Player leads winners at 2018 World Golf Awards...

Golfing legend, Gary Player, was voted ‘Golf Course Designer of the Year’ at the 5th annual World Golf Awards. The...

Taipei Launch for New Asian Golf Industry Federation Event Format...

The Asian Golf Industry Federation (AGIF) will unveil its new event format in Taipei next month. The AGIF is...

Asian Golf Industry Federation Welcomes New Board Members...

Industry stalwarts Laurie Walsh and Henrik Friis have been elected to the Board of the Asian Golf Industry Federation...

Norman urges synergy for Aus golf bodies...

Greg Norman believes the struggling Australian summer of golf won’t consistently attract the world’s best players until the sport’s...

Play nine-hole golf at the Adelaide Oval...

In an Australian first, the Adelaide Oval will be transformed into a nine-hole golf course a nine-hole putting course, a...

Golf Industry Central