Greg Norman-inspired golf course and land development at Port Hughes for sale
An ambitious land development at Port Hughes – surrounded by a Greg Norman-designed golf course – stalled in 2012. Now it’s back on the market.
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Developers are being given the chance to build the back nine holes of a Greg Norman-designed golf course on the Yorke Peninsula as part of a major land sale in Port Hughes.
The once-troubled golf course and resort development – known as The Dunes – has hit the market comprising a mix of residential land, a site earmarked for construction of a clubhouse and resort, and 163ha of vacant land set aside for completion of the golf course.
The project stalled in 2012 when it fell into the hands of receivers with debts of $13m.
Rural Bank, which was owed more than $8m, took over control of the residential component of the project in 2013 and has since progressed house and land sales in the area.
Rural Bank chief operating officer Will Rayner said it was the right time for a new owner to take The Dunes to “the next level”, and benefit from an expected increase in domestic tourism in the wake of COVID-19.
“The bank has owned the assets for seven years and now is the time for a party with more of a developer mindset to take the project forward,” he said.
“Boasting a Greg Norman-designed nine-hole championship golf course, The Dunes is home to what is widely considered to be the best golf course on the peninsula.
“There’s a lot of optimism in the sector at the moment, and the future for regional and domestic travel is bright.
“Australians want to get out and explore their own backyards, and given its location and facilities, The Dunes is a great option.”
Close to 170 subdivided allotments have been sold at The Dunes, with more than 100 homes built or under construction.
The project has averaged around 10 sales each year over the past seven years after being launched in 2007 with plans for 2000 homes.
Mr Rayner said the existing nine-hole golf course, owned by the Copper Coast Council and not part of the sale, had more than 200 members and had “developed into a thriving community hub”.
The land surrounding the golf course has been carved up into four separate parcels and is available to buyers individually or as a whole.
The first offering comprises around 50 subdivided, unsold allotments, while an additional 12.2ha of undeveloped land surrounding the first nine holes is available as a second parcel.
A 2.4ha site overlooking the first hole is also on offer, and has been earmarked for development of a clubhouse and resort.
Finally, 163ha of vacant land south of the front nine holes offers buyers the opportunity to complete the golf course, by developing the back nine holes plus including more housing.
Global real estate firm Colliers International has been appointed to sell the properties. Expressions of interest close on November 19.