Browsing Golf Industry NewsVIEW ALL

Hawkes Bay GC (NZ) sells 11.6ha to wipe out mortgage

POSTED ON October 6, 2017 @ 4:16 pm

Work has begun to turn Hawkes Bay Golf Club into a viable entity and to counter declining membership that all clubs are grappling with in the country.

Club president Mike Maguire said last night the club had sold 11.6ha of the 56.4ha course property in a bid to repay about $500,000 debt, believed to be a mortgage dating back to late last century.

“The challenge for any golf club is financial sustainability and, as a club, we’ve been carrying a substantial mortgage for quite some time,” he said.

A member at the club since 2001, Maguire’s research revealed the debt dated back almost three decades from the time he started there.

“We managed to stabilise our debt but for a small club, or even a larger one, to service a debt like that takes a lot of your funds and you’re not reinvesting in the game to enable your course to develop properly.”

He said the club was managing “to hold our head above water”. In the past four years, bar one year, it posted a modest surplus.

The club has a sale of purchase agreement, which has passed “its traditional stage” and should be done and dusted come January.

Gourmet Blueberries Ltd, a neighbouring business, has bought the 11.6ha property.

Everything adhering to the script, the course redesign and redevelopment will be completed by June next year.

Grant Puddicombe, based in Auckland but whose course designing and building services offshore to Canada, the United States and Japan, is the architect behind the revamped course.

The Canadian, who designed the Wainui golf course in Auckland, has completed his work.

The men’s par-73 course measures 6103m (club) and 6436m (championship), and the women’s par-74 one is 5417m. They will become shorter after the restructuring.

“It’ll still be 18 holes but we’ll be building four new ones but the course will be modified quite a bit.”

The youngest of the four major golf courses in the Bay, the club, formerly the Flaxmere Golf Club, is built on pumice land at the end of Valentine Rd, 10km from the Hastings central business district.

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

AGIF Expo’s Celebration Night to Honour Industry Trail-Bla...

Bangkok, Thailand: Pioneering Asian-based general managers and greenkeepers...

New Epar Connect Lite – now affordable for small and regio...

Designed to kick start your EHS governance Earlier...

The Links at Kennedy Bay new master planning underway...

A “once in a generation opportunity” for Port...

Golf Surprize rewards golfers for taking ACTIONS that increase cl...

Golf Surprize was launched in 2018 and has one specific mission – Reward golfers for taking ‘ACTIONS’ that increase club revenue. You...

New state of the art kiwi hatching facility opens at Wairakei Gol...

A new state-of-the-art kiwi-hatching facility, opening today, will dramatically ramp up kiwi numbers in the fight to save the birds from extinction....

SEEK: Golf Club Fitting Technician – Leadership – (Ti...

    Experienced golf club fitting technician   Leadership focus with professional and elite amateur players Melbourne based with regular travel   Our...

2020 Whole of Golf Conference – Keynote Speakers announced...

The New Zealand Golf Industry Council(NZGIC) is holding its inaugural Conference and Trade Show at the Ellerslie Event Centre, Auckland from Monday...

How Women Can Multiply Junior Golf Membership...

Syngenta’s global golf market research has revealed that attracting more younger women to golf could also be the key...

Golf Saudi Summit: Major new golf business event announced...

Yesterday saw the announcement of an all-new global golf business event, the Golf Saudi Summit, that will bring together...

AGIF Expo’s Celebration Night to Honour Industry Trail-Blazers...

Bangkok, Thailand: Pioneering Asian-based general managers and greenkeepers will take centre stage at a Celebration Night during next year’s...

Vietnam: Laguna Lăng Cô Awarded EarthCheck Gold Certification...

Hue, Vietnam: Laguna Lăng Cô has enhanced its reputation as one of Vietnam’s foremost resorts and a leader in...

New state of the art kiwi hatching facility opens at Wairakei Gol...

A new state-of-the-art kiwi-hatching facility, opening today, will dramatically ramp up kiwi numbers in the fight to save the...

Sonia Kruger defects from Nine to Seven to host mini-golf show, A...

Sonia Kruger’s defection from the Nine Network to her former employer the Seven Network is complete with the latter...