Luxury Sunshine Coast golf course on market for millions
A property giant has put one of the Sunshine Coast’s most up-market golf courses on the market as it seeks to benefit from a surging interest in the sport during the Covid-19 pandemic.
City Beat
Don't miss out on the headlines from City Beat. Followed categories will be added to My News.
Six years after being saved from closure, property giant Aveo has put its up-market Peregian Springs Golf Course on the market as it seeks to benefit from surging interest in the sport generated during the Covid-19 pandemic.
No price tag has been disclosed for the 18-hole course, which was designed by Phil Scott and opened in 2003 as the centrepiece of the up-market Peregian Springs residential development. However, the course, which is owned by Aveo subsidiary Peregian Springs Golf Holdings, has a carrying value of $4.1m, according to its 2021 financial report lodged with ASIC. Peregian Springs Golf Holdings reported income of under $1m last financial year following a loss of $184,000 the previous year, according to the report.
Back in 2016 the course hit the rough after receivers were appointed to the then operators Peregian Springs Golf Club. However the course was saved when Golf Services Management, which operates five golf courses in Victoria including Bay Views and St Andrews Beach, stepped in to take it over. At the time there was considerable concern the course could be subsumed into a housing development.
City Beat hears Peregian Springs Golf Holdings has now been approached by several parties, including industry specialists, who have expressed interest in purchasing the course.
Given the surging interest in golf during the Covid-19 pandemic and the potential for interested parties to improve the current facilities, its says a decision has been made to explore opportunities to find a new owner. Golf Services Management will continue to operate the course and clubhouse under its current lease as normal.
Novonix Hires
Two genuine corporate heavy hitters Daniel Akerson and Ron Edmonds have joined the board of Brisbane battery material company Novonix following its annual general meeting this week. Akerson has served as an executive and director for multiple Fortune 100 companies, including as the former chairman and chief executive of General Motors from 2010 to 2014. Under his leadership, the company completed a successful initial public offering in November 2010, reported a record 15 consecutive quarters of profitability, reinvested nearly $9 billion, and created or retained more than 25,000 jobs at its U.S. plants.
“I am excited to join the Novonix board,” says Akerson. “I’m a firm believer in the company’s investment in a domestic battery supply chain and its mission to foster innovation and develop technologies that will drive a more sustainable, energy efficient future.”
Edmonds is a highly accomplished finance executive, currently serving as chief accounting officer at Dow, where has helped spearhead its historic $86-billion merger with DuPont.
Prior to Dow, he served in finance and accounting roles at Chiquita Brands International, The Upjohn Company, and Arthur Andersen & Company. Novonix shareholders, including Queensland billionaire Trevor St Baker (illustrated), have seen the vale of their holdings in the firm rise over the past week on news it had won a big US government contract.
Brisbane-based Novonix confirmed on October 20 that it had been selected to enter negotiations to receive the $US150 million grant from the Department of Energy (DOE) to expand its domestic production of high-performance, synthetic graphite anode materials.
The award, announced by President Joe Biden, strengthens the North American battery supply chain amid surging demand for renewable energy. The value of St Baker’s 9.6 per cent stake in Novonix stood at $137.5m after the stock closed at $2.95 on Monday, up 33.5 per cent. By Friday afternoon the shares had come off the boil and were trading at $2.73.
In the pink: Hot property helps fund breast cancer research
Professionals Real Estate has marked a corporate philanthropic partnership that has delivered $4.5m to support lifesaving research into breast cancer over two decades.
Hospital foundation racks up $11.2m for sick children
The Children’s Hospital Foundation has completed a successful year that saw $11.2 million invested into direct help for sick children and young people across Queensland.