Jump to content


 

Photo

Heritage Golf Club - receiver appointed!


  • Please log in to reply
256 replies to this topic

#166 thebarfly

thebarfly

    Newbie

  • Members
  • Pip
  • 16 posts

Posted 13 January 2011 - 07:30 PM

Another member allegedly involved is Rubert Leigh? I wonder if they expect us to pay again for the playing rights that we have already paid for or what????

#167 ellimb

ellimb

    Advanced Member

  • Members
  • PipPipPip
  • 1622 posts

Posted 19 January 2011 - 04:29 AM

It is Rupert Legh you mean ? He was involved in ST. Andrews Beach and San Remo right ? Richard Ellis trying to protect his house at the club and was trying to sell for $10 mil 2 yrs ago ! The other rumour about the buyer is a Malaysian group. Now who is the buyer ???

#168 Biscuits

Biscuits

    Advanced Member

  • Members
  • PipPipPip
  • 133 posts

Posted 19 January 2011 - 05:39 PM

Hi guys, are there any risks in currently leasing a membership out there? I'm thinking about that option. Loved the course when I played as a guest a few months ago.

#169 ellimb

ellimb

    Advanced Member

  • Members
  • PipPipPip
  • 1622 posts

Posted 20 January 2011 - 09:47 PM

The current talk is that the buyer is a Malaysian businessman who is already a Heritage member and is the brother of the major shareholder of the consortium that bought St.Andrews Beach.

Seems rapidcat got it right back on Dec 6, 2011. Malaysian Group but not related to St. AN B people. All is well. Only need court approval. Only hope that the courses will be well maintained in the future. The conditions are bloody good at the moment except St Johns greens were mini cored a couple of weeks ago. Leasing membership ? no prob mate.

#170 tryingtomakepar

tryingtomakepar

    Advanced Member

  • Members
  • PipPipPip
  • 143 posts

Posted 21 January 2011 - 04:34 AM

one of my first games of golf a month ago was on the henley course i am yet to play somewhere that tops this yet

#171 rapidcat

rapidcat

    Advanced Member

  • Members
  • PipPipPip
  • 119 posts

Posted 26 January 2011 - 01:23 AM

As ellimb states above, deal is agreed; court to sign-off (I guess that will happen in February sometime). Has been publicised in member's most recent newsletter, I know that committee have met several times with the pending new owner and club member's rights will be maintained, but I don't have all the details yet. So looks like a decent outcome for golf - both Heritage courses are terrific and the countryside is beautiful, would have been a great loss if it didn't continue as a golfing venue and a golf club. Having played golf around Australia and a little overseas, I have not seen fairways that are in better condition than what you will find right now at either of the Heritage courses. Two Thursdays ago when we had the massive rain downpour in the morning, I played the Henley in the afternoon and I didn't see any surface water anywhere on the course - quit remarkable.

#172 rapidcat

rapidcat

    Advanced Member

  • Members
  • PipPipPip
  • 119 posts

Posted 28 March 2011 - 11:09 PM

More news - a purchaser for both the YVG (courses, land) and Glenbelle (hotel) has been agreed and application made to the court for approval. Settlement is expected in early May. All existing employees will be offered positions with the new purchaser Glenbelle scheme: secured creditors paid in full, funds also available for unsecured creditors YVGC scheme: secured creditors paid in part so no funds available for unsecured creditors. So mainly good news for creditors, excellent news for members as the new purchaser intends to operate the club respecting existing members rights, excellent news for employees who keep their jobs.

#173 ellimb

ellimb

    Advanced Member

  • Members
  • PipPipPip
  • 1622 posts

Posted 20 May 2011 - 07:08 AM

rapidcat, where are you ? Court finally approve sale. Told you all that the members will be alright. Because the subs of $3 to 4 million p.a. is the CASH flow and life line to any owner. Simple ! However, both the courses have taken a battering from the wettest season for 10 yrs. And winter is just starting. Have a hoegaarden !

#174 ellimb

ellimb

    Advanced Member

  • Members
  • PipPipPip
  • 1622 posts

Posted 19 July 2011 - 07:27 AM

Last Saturday's Age reported that The Heritage was settled on Friday 15 July. About $15 mill. Membership intact. Rumour still says the income is around $1mill. per annum. So price is about right with land and also way below replacement cost. (est 26 mill). Signing off.

#175 CaNadiAn MiCk

CaNadiAn MiCk

    Head of the asylum

  • Administrators
  • 15919 posts

Posted 19 July 2011 - 08:04 PM

Update http://www.iseekgolf...-sale-finalised

#176 Bogiegolf

Bogiegolf

    Suspect

  • Members
  • 4 posts

Posted 20 July 2011 - 12:52 AM

Any idea when memberships will start trading again and at what level??

#177 ellimb

ellimb

    Advanced Member

  • Members
  • PipPipPip
  • 1622 posts

Posted 20 July 2011 - 03:35 AM

Nothing for sale at the moment. I imagine the price will be as before the receiver situation around $16K to 20 K.

#178 davkat

davkat

    Member

  • Members
  • PipPip
  • 25 posts

Posted 24 July 2011 - 01:11 AM

If you are interested in a membership, try contacting the club. I think they are selling them on behalf of members who may want to sell.

#179 Bogiegolf

Bogiegolf

    Suspect

  • Members
  • 4 posts

Posted 14 November 2011 - 12:11 AM

Any des where a membership can be listed for sale apart from the club?

#180 ellimb

ellimb

    Advanced Member

  • Members
  • PipPipPip
  • 1622 posts

Posted 14 November 2011 - 04:05 AM

Here on this forum. How much ?




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users