Direct competition with the National, 54 holes (36 very good) at a cheaper price would make it a difficult decision for me to join an 18 hole facility no matter how good and exclusive it is.

History says it will repeat. Hope not for the sake of the investors but the market is way over supplied in Melbourne and the Mornington area.

They will be defying the economy and trends in the golf industry if it is success.

A decade ago were prosperous times compared to now werent they?

There’s many a slip ’tween a cup and a lip.

http://www.golflink.com.au/...

No doubt, Bernie. But we are talking about $100k, and there are plenty of people with that sort of money even in the current climate.

All things considered, you really think it will work?

On a separate note, and I know it’s very early days, there’s nothing in the photos of the work completed so far that gets me very excited.

I think that golf course is mainly marketed to Chinese investors in China and would have residential component.

I think that golf course is mainly marketed to Chinese investors in China and would have residential component.

ellimb

I don’t think that is correct at all. Do you realise how many top quality golf developments there are in China at the moment?

Yes, but the new richs want to put their money in Oz.
Ask Bob Carr.

Yes, but the new richs want to put their money in Oz.
Ask Bob Carr.

ellimb

That might be the case but its not in golf courses where they will be putting their money.

They are buying farms!

This may be of interest?

St Andrews Private update

Resident forum moderator
Any issues contact content @ iseekgolf.com

Going ahead course development wise is totally different to being viable.

We saw it with the first St Andrews Beach course. 5 years I think is a reasonable timeframe to ascertain a courses viability. I.e) In five years time will the new St Andrews Private be a profitable seperate entity from its developers?

For this to occur I think the unlikely answers to my question above both have to occur…..highly doubtful I suspect

You’re making some pretty ill-informed assumptions based on something that happened a decade ago under vastly different circumstances. Have you seen the financials of the new project? Have you seen a membership proposal? You make it sound like you know the ins and outs.

You better go and tell the developers the project is doomed, they might want a heads up before getting the the scorecards printed…..

Plenty of people got burnt in the original St Andrew’s Beach development and maybe these guys have learnt a little from that and other golf course/resort failures. Its a brave venture and good luck to them.

I’ve read the membership proposal cover to cover a few times… Happy to send to you if you want to read and decipher how it could work as an ongoing viable club…

As I’ve said before, the fees to ongoing running costs of the club don’t match up at all, even if in the unlikely prospect that all memberships are sold (does everyone realise, the price goes up the later you buy it, the last 30 memberships are $145k… I’d like to see that happen!), members could be paying $10k+ /year like the Grand on the Gold Coast…

There’s a lot going against it, and not much for it at this stage (other than blind faith that a great piece of land will eventually become a great golf course)...

What a great way to build comaraderie between the members of a club of 281.

“Hi please to meet you. ....my name is….Iwhen did you join…oh I’ve only re entry joined what about you….oh I got in quite early and saved $45k on what you paid….oh by the way…. What did you score on that hole”

It’s suicide if that’s the business model

A decade ago were prosperous times compared to now werent they?

There’s many a slip ’tween a cup and a lip.

http://www.golflink.com.au/...

No doubt, Bernie. But we are talking about $100k, and there are plenty of people with that sort of money even in the current climate.

Heaps of people have $100k to spend I agree…..but to pump it into another golf course/club promising the world with figures that don’t stack up you won’t get many….there are too many other options.

A decade ago were prosperous times compared to now werent they?

There’s many a slip ’tween a cup and a lip.

http://www.golflink.com.au/...

No doubt, Bernie. But we are talking about $100k, and there are plenty of people with that sort of money even in the current climate.

Heaps of people have $100k to spend I agree…..but to pump it into another golf course/club promising the world with figures that don’t stack up you won’t get many….there are too many other options.

Nash @ $7k is looking good….. Very good!

Yes, but the new richs want to put their money in Oz.
Ask Bob Carr.

ellimb

Bob Carr will be unemployed in a few months time

I may also be unemployed within a year as I see that our economy will definately slow.

So are you buying The Nash @ $7K or will you wait till it is $3K

I may also be unemployed within a year as I see that our economy will definately slow.

So are you buying The Nash @ $7K or will you wait till it is $3K

ellimb

If the question is directed at me as I’ve previously written I’d jump on The Nash in a heartbeat if I lived in Melbourne but I don’t. I have reciprocals though that keeps me happy when I travel down.

Found this course layout poking around on their updated website. Seems the 16th hole at St Andrews Beach is actually on the land of the new course so will be removed and replaced by a new hole. New tees for the 17th hole as well.

Was only down there a couple of weeks ago and no real work has started in this area of the new course, so wondering if there opening date for later in the year will just be 9 holes.

That was hit on the head months ago. The original will stay intact fortunately. It seems the opening day is some way off – if ever.