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Developers circle as Warringah Golf Club lists its clubhouse for sale

POSTED ON April 10, 2016 @ 6:24 pm

2016-04-10_1822

WARRINGAH Golf Club has taken a step closer to realising its dream of a new clubhouse nearer its greens with the listing of its existing premises at North Manly.

The club has launched a campaign for expressions of interest to sell the 4071sq m site at 397 Condamine St, opposite the golf course.

CBRE’s Aaron Arias and Richard Gell have been appointed to sell the property for the club, but they would not be drawn on a price guide.

The property includes a building with functions facilities and car parking, and industry sources have speculated it could fetch around $5 million.

This is the first time the club has offered the property for sale since it acquired the site and established its first clubhouse in 1939.

Extensions were carried out in 1949, before the original building was demolished and replaced with the current clubhouse in 1968.

The property is being sold to accommodate the Warringah Golf Club’s long-held goal to relocate the clubhouse to a new site either on its golf course or close to it.

At the moment the two are separated by very busy Condamine St.

Warringah Council supports the strategy and has flagged a potential move in its District Park Plan of Management, released late last year.

CBRE Residential development manager Richard Gell said the property was a unique opportunity that would draw interest from a large pool of prospective buyers.

“Strategically located in one of Sydney’s most desirable areas, this site is expected to appeal to the gamut of prospective buyers who are looking to capitalise on its value uplift through potential residential development,” he said.

Developers are likely to dominate the buyers’ pool given the size of the land parcel and central location in a predominantly residential area within an easy walk of Warringah Mall.

“Parcels of this land size very rarely come to the market in North Manly and, as such, it offers an opportunity to provide a unique end product in a tightly held location,” he said.

Expressions of interest close on April 21 at 4pm.

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