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Eagle-eyed investor chips in to buy prestigious golf course
August 12, 2011
Eagle-eyed investor chips in to buy prestigious golf course
One of New Zealand’s best golf courses has been sold for an undisclosed sum.
Kinloch Golf Resort on the outskirts of Taupo has been bought by property developer John Sax. The property was sold by Bayleys Real Estate on behalf of the Van Den Brink family – associated with poultry farming in New Zealand.
The 625 hectare property is contained across five titles – consisting of residential subdivisions surrounding some of the fairways and greens, an existing clubhouse facility, land apportioned for a lodge development, and the actual par-72 course designed by Jack Nicklaus.
A land consent issued by Taupo District Council allows for building of the lodge, along with 226 house sites over five separate areas. Meanwhile, the clubhouse site has access and services already in place – with plans for a building of 1500 square metres.
Bayleys director David Bayley said the three-month marketing campaign behind the sale of Kinloch Golf Resort had attracted considerable interest from both New Zealand and overseas parties. Three parties submitted offers at the end of the tender process. Two of those were offers from China-based investors.
Mr Bayley cited client-confidentiality and declined to comment on speculation in golfing circles that German golfing great and two-times Masters champion, Bernhard Langer, had been out in New Zealand in March to visit the highly-rated course with a view to purchasing the location. The property has a rateable value of $4.6million.
US magazine Travel and Leisure Golf voted Kinloch among the Top 10 best new golf courses in the world in 2007, while Asian Golf Monthly magazine readers nominated it among the top three best courses in New Zealand. Website golfrankings.co.nz also ranks Kinloch as its number three choice in New Zealand.
Fellow Bayleys senior sales executive Michael Pleciak who was intricately involved in the marketing process, said he understood Kinloch’s new owner was keen on completing the plans for building the luxury lodge, with further long-term vision of developing the residential land sites for public sale – potentially as early as next year.
“Kinloch golf course was originally built with vision and passion. With the golf course complete and now an asset in New Zealand’s golfing stable of outstanding golfing locations, the next era in vision and passion will see the evolution of this resort location come to fruition,” Mr Pleciak said.
ENDS
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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