Capital Golf Club sold to Crown Resorts $67mil!

Crown Resorts has purchased the prestigious Capital Golf Club from Melbourne porperty developer Lloyd Williams for $67.6 million.

The course, considered one of the best in Australia, is in Melbourne’s south-east at Heatherton.

It is mostly frequented by Crown high-rollers, tucked away near Moorabbin behind massive wrought-iron gates. It was a par 72 course when it opened in 1997.

The 120-hectare golfing playground was reportedly modelled on the private desert golf course of the owner of the Las Vegas Mirage Casino, Steve Wynn.

Lloyd Williams’s private company, Hudson Conway, built Capital in the 1990s at an estimated $50 million cost. It has been the desire of Crown to own it outright for almost two decades.

The outright purchase was revealed in Crown’s latest results. It had been leased from the late 1990s at around $5 million a year under a leasing deal with Crown which gained an exclusive corporate membership share in Capital for around $36 million.

With a $12 million clubhouse, the course was designed by champion golfer Peter Thompson.

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