Huntingdale and Cranbourne sign in-principal partnership agreement
Huntingdale Golf Club together with Cranbourne Country Club have signed an historic agreement to form a partnership whereby Huntingdale Golf Club will accept Cranbourne members in exchange for an injection of capital for Huntingdale course renovations.
Key elements
- Agreement is conditional upon Huntingdale Golf Club members approval of the OCM Course Masterplan proposal to renovate the golf course
- Cranbourne Country Club agrees to pay $10m to Huntingdale Golf Club subject to Huntingdale golf course renovation milestones
- Huntingdale Golf Club willadmit an initial tranche of new qualifying members, nominated by Cranbourne Country Club on completion of the Huntingdale golf course renovation
- Huntingdale Golf Club members will have access to play at the Cranbourne golf course during the renovation of the Huntingdale golf course
The Masterplan
The Cranbourne Country Club member introduction to Huntingdale Golf Club will be a phased, controlled process, managed in accordance with current member selection criteria. Huntingdale Golf Club and Cranbourne Country Club are now working to develop the formal agreements to be included in the Huntingdale GC Masterplan which details the course renovations.
The Masterplan is set to go to a Huntingdale member vote at a General Meeting of members to be heldin the coming months.
Huntingdale Golf Club Captain Greg Smith said: “The club is excited to welcome Cranbourne members to Huntingdale. The agreement is a win-win for both clubs, in the short and long terms.
“The partnership with Cranbourne Country Club will assist the funding of Huntingdale’s golf course capital requirements, provide an alternative course (Cranbourne) during the reconstruction works andfurthermoreprovide a strong pipeline of new members. The new pipeline of members provides sustainable cashflows into the future without impacting existing members access to and enjoyment of the course and its facilities,”
Mr. Smith said. Cranbourne Country Club President Mark Wollansaid: “We have for some time beenconsidering the options with regard to the continued operation of the Cranbourne golf course and believe a partnership with Huntingdale Golf Club is of value to our club and will be positively received by our members.”
