Multi-million dollar development underway at Strathfield Golf Club

By Mathilda Andersson

Australian residential developer Metro Property Development has revealed stage One of the surging dwelling project adjacent Strathfield Golf Club in Sydney’s inner west, which is predicted to secure the club’s financial future.

The Brisbane-based group launched the initial stage of the $260 million renovation Parvenu in mid July, which demonstrated 50 luxury townhouses and 178 apartments designed by architects Marchese + Partners.

According to the Australian Business Review, Metro spent about $52,5 million on the dwelling site and Strathfield Golf Club’s general manager Neil Hardy said that the commercial trade would bring in well-needed economical means to the club.

“Hopefully we can have our new clubhouse built within the next couple of years and still have some $30 million left over for investments,” Mr Hardy said.

“The sale of the land will secure the club’s financial future and will put us in a better economic position than many other clubs are experiencing today.”

The unveiling included the luxurious townhouses, some with impressive views over the adjoining golf course, with prices ranging from $1.85 to $2.4 million plus for a three or four bedroom design.

“It’s no surprise that we’ve already had a lot of people snapping up these town homes, first and foremost being keen golfers who jumped at the idea of living right on the golf course,” said Phil Leahy of Metro.

The developing group has already sold 28 townhouses, with only 22 remaining.

“We’re seeing a broad mix of buyer types drawn to the tranquil location and easy lifestyle that comes with living in a sizeable home without the upkeep of a traditional house. Buyers also have the added bonus of being within close reach of transport links, shopping centres, parks and schools,” he said.

By the time of the acquisition last year, The NSW golf club had, like many others in the area, battled increasing operational costs alongside plummeting membership numbers. In recent years the new board decided to sell part of the land and relocate the clubhouse and practice fairway area to combat the financial hardships.

Hardy said that a share of the proceeds would be used to update the course to utilize the land better, and to provide a more modern clubhouse for members and guests.

“It’s a great feeling of satisfaction for both the club and our members to have seen this deal through and to have been able to stay alive and still trade during the four years of negotiations,” he said.

The construction of the town houses is expected to commence later this year and developers anticipate to reach full completion in late 2017.

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