Golf Club Atlas
GolfClubAtlas.com => Golf Course Architecture => Topic started by: Greg Gilson on February 16, 2017, 11:43:56 PM
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http://www.agif.asia/2017/02/acclaimed-cape-wickham-course-up-for-sale/
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If future bookings reflect double digit growth why are they selling? How many rounds last year? I just can't imagine that enough golfers will get themselves to the first tee due to the remote location.
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Tim
I suspect that is why they are selling. Presumably the next phase is the hotel accommodation and that is a significantly larger investment which of course is made easier by having 24th best course on the door-stop. Therefore as well as a money earner in its own right the course has also added value to the hotel site. An opportune time to cash in.
Alternatively they might just have gone bust, but hopefully not.
Niall
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At 68 the current owner I believe thinks that the everyday progress and running if a world class facility requires somebody with more energy than he has to give.
I think the man has realized the dream in helping to create aMasterpiece of undoubted world class quality and is now prepared to let somebody else take it from here.
Mr Andrews is wonderful man who has been very good for Australian golf and is willing to let his baby move forward.......I for one hope it lands in great hands ....for it is one of the worlds very very special places
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so....what would such a place be worth and how do you calculate a reasonable value? Build cost +? A price reflecting a reasonable ROI? I am sure some members in the DG have been in or around the business of buying and selling "resorts" like this?
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so....what would such a place be worth and how do you calculate a reasonable value? Build cost +? A price reflecting a reasonable ROI? I am sure some members in the DG have been in or around the business of buying and selling "resorts" like this?
Building cost is irrelevant. Price will be based on a multiple of expected future earnings. If current earnings are negative, then it will require a buyer that believes they have a better operating plan. Perhaps the team behind Ocean Dunes will step up and merge the operations. Would be some synergies.
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It's only $2 for a PowerBall ticket with a $349 million Jackpot this weekend.
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Trump Wickham
(Trump, Jr. of course...)
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It's only $2 for a PowerBall ticket with a $349 million Jackpot this weekend.
I told my wife today that I was buying it if we win --rather have that than a classic car collection.
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Buck
I expect your wife's response was "Yes, Dear".
James B
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Could the key to success merely be a rebranding of the mutton bird as a local favorite? Seriously, the history of golf course development as we all know is a history of romantics and dreamers, lovers of the game with a pocket full of gold and a burning desire to create the perfect golf course to while away their days. Thankfully a handful of them succeed and their dreams live on, even if they lose the course financially or grow too old to be the benevolent dictators to lead their cherished creations.
What is the cost of a flight now from Melbourne or Tassie Launceston or Hobart to King Is.? I see Ryan Air and some others in Europe are flying routes for less than 20euro. If they could figure out a low cost flight schedule making it like taking a bus to get there, maybe that could help.
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At 68 the current owner I believe thinks that the everyday progress and running if a world class facility requires somebody with more energy than he has to give.
I think the man has realized the dream in helping to create aMasterpiece of undoubted world class quality and is now prepared to let somebody else take it from here.
Mr Andrews is wonderful man who has been very good for Australian golf and is willing to let his baby move forward.......I for one hope it lands in great hands ....for it is one of the worlds very very special places
Michael,
I think you have hit it on the head with this thread.
Cheers, Mike
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It looks like the course is for sale again. In 2017 it was bought by a woman named Ekaterina Kolmakova who lives in Vietnam for $16 million. She appears to have purchased it from Duncan Andrews. https://aussiegolfer.com.au/vietnam-based-company-buys-cape-wickham-links-for-16million/ (https://aussiegolfer.com.au/vietnam-based-company-buys-cape-wickham-links-for-16million/)
Here is a listing posted on LinkedIn: https://www.linkedin.com/posts/paulmasonproperty_australia-golfcourse-development-activity-6960520711337623552--VEz/ (https://www.linkedin.com/posts/paulmasonproperty_australia-golfcourse-development-activity-6960520711337623552--VEz/)
What's that saying - it is the third owner of a golf course that makes money?
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Buy the dream; sell the reality.