McCracken Country Club hits the market
Investors and resort operators are expected to compete for one of the Fleurieu Peninsula’s most popular golf course resorts, which has been put up for sale.
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One of the state’s most popular seaside golf resorts has hit the market.
The McCracken Country Club near Victor Harbor is expected to fetch more than $7.5 million as part of an international sales campaign which ends later his month.
An 18-hole championship golf course, hotel, apartments, villas, function and convention facilities, bistro, day spa and indoor swimming pool are all included in the sale, which includes all property and the business operation.
The golf course, designed by world-renowned designer Tony Cashmore, opened in 1991, while the McCracken Properties syndicate of investors has led development of the resort over the past 20 years of ownership.
McCracken Properties chief executive Andrew Bullock, who also runs the 1834 Hotels group which operates the resort, expects it to benefit from renewed interest in local tourism following the COVID-19 pandemic.
“We’re cautiously optimistic about regional tourism at the moment, and we’re probably seeing a bit of a renaissance of regional South Australia,” he said.
“There’s a dispersement of people out of metro Adelaide and assets like this are primed to capitalise on that in the next few years.
“I think there’ll be a load of local interest - whether there’s overseas interest I don’t know, but I think there’ll be a very broad range of interest.”
Stretching across more than 55ha of land, the property also offers further development potential, according to McGees Property’s James Juers, who is leading the sale campaign with colleague Grant Clarke.
“The property has the potential to be sold as separate parcels and there is also additional development potential subject to consents,” he said.
“That could potentially be residential, aged care, and Victor Harbor no longer has Greenhills Adventure Park so potentially something like that too.
“Asian-based buyers are certainly looking at the potential and we have many capable operators and owners within SA and Australia to take this on as well.”
The main resort includes 40 motel suites, while an additional 26 apartments and villas are also situated within the resort grounds.
Meanwhile, for golfers, the links style course presents several challenges, including 14 lakes and ponds scattered across the property, and more than 72 bunkers.
The resort generates annual revenue of more than $6 million, with industry sources suggesting it could attract a price tag of more than $7.5 million.
Expressions of interest close on July 27.
