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Eastern Golf Club


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#61 Domi

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Posted 10 August 2009 - 06:50 PM

Yeah it will. It is a cracking location obviously. Everyone seems to think the ballpark figure is around 90 mil give or take each way of that mark. Im not sure. Possibly a little less since the GFC hit. Still will be a reasonable amount of money to put into a new track.

#62 Pherst

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Posted 16 August 2009 - 09:47 PM

Drove past this morning. Whopping great 'FOR SALE' sign out the front. Looks like it's full steam ahead.

#63 thebarfly

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Posted 17 August 2009 - 06:54 AM

There is a rumour going around that its only worth about half of what we are led to believe because you can develop less than half of it due to trees and native vegitation???????????? Have you heard anything?????????? How can we go to Yering if thats true????

#64 Domi

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Posted 17 August 2009 - 10:38 PM

I would have thought they would take all that into account? Even I know you can't just chop down trees willy nilly and you have to have a certain percentage as 'open space' etc for any housing development. If it is only worth 40-45 then forget about a good track at Yering.

#65 Pherst

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Posted 23 August 2009 - 09:47 PM

I would have thought they would take all that into account? Even I know you can’t just chop down trees willy nilly and you have to have a certain percentage as ‘open space’ etc for any housing development.
If it is only worth 40-45 then forget about a good track at Yering.

If it's only worth half of what they're quoting then you're going to end up with something like the new Croydon (Yering Meadows) and I wouldn't wish that apon anybody. From what I've heard, the board and management at the club are a pretty switched on group. Apparently they've hired the right people to look after it so from what my friend(s) there have told me the original figure being bandied around of $90mil+ still stands. I don't know any of the board or management though so this is probably just their speculation. Having said that though, I did read somewhere that it's the biggest single parcel of land to come up for sale in metropolitan Melbourne for quite some time. The last one was some quary out in Roweville or somewhere about the same size and that went for $100 mil...

#66 thebarfly

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Posted 24 August 2009 - 05:41 PM

The Buz is that less than half of the clubs land can actually be developed so maybe the $40m/45m isnt far off the mark? Interesting? We will just have to wait and see? When does the tender close?

#67 Pherst

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Posted 24 August 2009 - 06:25 PM

The Buz is that less than half of the clubs land can actually be developed so maybe the $40m/45m isnt far off the mark? Interesting? We will just have to wait and see? When does the tender close?

Mid-September I think. Not 100% sure tho.

#68 Domi

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Posted 24 August 2009 - 07:43 PM

The tender closes 17 September at 4 p.m. The thing that interests me the most in adverts for selling the place is the sentence: "Progress payments and up to five years interest free settlement terms to approved purchaser" Surely if it's a desirable peice of land then terms like this wouldent be offered.

#69 Takeitasread

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Posted 25 August 2009 - 02:10 AM

They'll get 90 mill easily for that sight. Land that close to the city in that quality of area is almost unheard of.

#70 Takeitasread

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Posted 25 August 2009 - 09:20 PM

I think that should be "site"

#71 thebarfly

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Posted 31 August 2009 - 12:23 PM

I think that should be “site”


#72 Pherst

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Posted 02 September 2009 - 07:45 AM

I think that should be “site”

I’m not so sure, we will wait and see! But equally disturbing is that there must already be a MAJOR cost blow out regarding the relocation, as the advances the Club is now seeking to develop the Yearing Course has increased from $60m to $74m and I hear, RISING.

Incorrect. The figure is still $60mil to have it all up and running (including purchase price of the land). The costs of construction may or may not increase when the club knows exactly how much they get for Doncaster and thus what facilities they can or cannot build. $60 mil will get the land / course / clubhouse etc done and any additional cash will be put into extra features (tennis courts / pool / gym / etc).

#73 JBoy

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Posted 02 September 2009 - 08:17 AM

$60 mil will get the land / course / clubhouse etc done and any additional cash will be put into extra features (tennis courts / pool / gym / etc).

You’re goin’ home in the back of a divvy van

I like the sounds of that!

#74 Takeitasread

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Posted 02 September 2009 - 06:23 PM

It will be an awesome place when it eventually gets finished.

#75 KitFisto

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Posted 04 September 2009 - 08:55 AM

From what I’ve heard, the board and management at the club are a pretty switched on group. Apparently they’ve hired the right people to look after it so from what my friend(s) there have told me the original figure being bandied around of $90mil+ still stands. I don’t know any of the board or management though so this is probably just their speculation.
Is it the same board that was going to pay way over the odds for Kingston Links? How many Saturdays were lost to fog at Croydon this year? Just curious.




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