Inside story: Future of decaying Arundel Hills Country club revealed

The buyer of the dilapidated Arundel Hills Country Club has unveiled their revival vision, saying only a ‘little bit of residential’ development is in plans for the site. Read latest on what’s in store.

The buyer of a dilapidated Gold Coast country club has unveiled their revival plan, saying only a “little bit of residential” development is involved.

Prospective developers Dale Carroll, Steven Kleytman and Andrew Barbayannis are in the process of buying 67ha Arundel Hills Country Club land at Arundel Place.

It comes after the company behind the club, Zhongsheng Management, was placed in external administration in May.

Mr Carroll said final plans for the site would be lodged with Gold Coast City Council by the end of this month.

He said the property’s waterways, trees and wildlife habitats would be retained, while adding a “little bit of residential”.

Arundel Hills Country Club before it was placed in external administration. Picture: Glenn Hampson

Mr Carroll said recreation spaces for public use would also be included in plans.

He said settlement on the sale of the property had been extended from September 1, 2022, to March 1, 2023, due to a “commercial decision”.

The property’s selling agent, Joseph Codianni of Real Commercial Qld, said the buyer group had paid a “very substantial non-refundable deposit” when they signed the contract of sale.

Mr Codianni was unable to disclose the property’s sale price before it settled.

“I had received in excess of 39 inquiries (about the property) from all over Australia, Singapore, Malaysia, China, Japan and a major investor from the USA,” the commercial director said.

“There were some outstanding conditional offers made with eyewatering numbers, however the buyer wanted it subject to their terms and conditions which were quickly rejected.”

Mr Codianni said another seven potential buyers had contacted him since the country club site had sold.

“Unfortunately, the property is sold and not for resale,” he said.

“These new interested buyers are again both domestic and international buyers specialising in golfing enterprises and developers.

“I also had publicans wanting to convert the massive club house into a local club with facilities such as function and conference centre, restaurant, cafe and introduce pokie machines to generate the necessary income to make the venture a resounding success.”

Arundel Hills Country Club entrance. Picture: Jesse Hamilton

The club house and property is now available to lease for a minimum period of six months, subject to conditions.

According to Mr Codianni, the property’s Chinese-based seller wanted to offload it to “peruse other interests”.

“The golf business was operating at a loss, as are most golf clubs throughout the country and therefore (they) wanted to offload the asset,” he said.

At a second creditors’ meeting on August 31, a proposal for a deed of company arrangement (DOCA) for Zhongsheng Management was accepted.

Grant Thornton’s Graham Killer will remain the administrator until the DOCA is signed.

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