Hope Island sale completed
BY Bruce Young | 10 Dec 2013
The acquisition of the Hotel Development site and majority shareholding of Links Hope Island Golf Club is now complete.
The acquisition has been made by Golden Horse Nine Dragon Lake Holdings Limited the owner and developer of the 54 hole Dragon Lake Golf Resort in Guangzhou, China, host of the prestigious PGA event, The Royal Trophy. Dragon Lake are also in the final stages of their proposed purchase of the Noosa Springs golf course on the Sunshine Coast.
The assets were purchased from Brisbane based Consolidated Properties who purchased Links Hope Island and several other land holdings in Hope Island from Mirvac in 2007.
The two prime waterfront hotel and villa development sites total 8,162sqm and have approvals in place for up to 400 resort rooms and 29 permanent residences, situated adjacent to the golf course and private canals. The hotel can integrate with the existing clubhouse which has recently undergone a multi-million dollar refurbishment – to utilise function rooms, restaurants, lobbies and full line kitchens.
The acquisition includes the balance 552 of 990 equity shares for $10 million in the Links Hope Island golf course. The first round of shares were sold individually to private members, with the golf course widely regarded as one of the premium courses in Australia.
Consolidated Properties Executive Chairman Don O’Rorke stated the sale represented a once-only opportunity to secure integrated hotel and golf course development in the exclusive Hope Island Resort.
“We fielded several offers and after considerable review we believe that the offer from Golden Horse Nine Dragons Lake Holdings was the best for the members of Links Hope Island and the community.”
At the Media Event on Friday December 6 2013 to celebrate the acquisition, Mr. Feng Di, Chairman of Golden Horse Nine Dragon Lake Holdings Limited, stated his excitement about his company’s entry into the Australian golf market and the construction of an up market hotel adjacent to the Links Hope Island clubhouse in the not too distant future.
With a strong membership base at Dragon Lake Golf Club in Guangzhou, it is expected there will be a strong focus on golf tourism with players from China and other countries enjoying golfing holidays on the Gold Coast and Sunshine Coast.
Hope Island Resort is a pre-eminent integrated resort situated at the northern end of the Gold Coast and incorporating the golf course, marina and shopping village together with secure gated residential communities. The resort was developed by Shinko in the 1990’s at a cost in excess of $100 million, with further development by Lang Walker and Mirvac.
The Links Hope Island golf course was designed by Peter Thomson in collaboration with Mick Wolveridge, with around 50,000 games played on the fairways each year.