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Huntingdale Gc - Possible Merger?

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#106 Zenstb

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Posted 31 March 2019 - 12:43 PM

No way its Metro - they are too far up the pecking order and would never lower themselves to the National level

Only options are YY and Comm, and of those two probably YY


Lowered themselves? They aren't above anyone else and have approached Nash, amongst other clubs approached too
Coordination is the key to movement

#107 Eaglehwk

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Posted 16 May 2019 - 07:54 PM

Be interesting to see what fellow Iseekers think.

Very strong rumours that there will be some sort of arrangement with Metropolitan announced this month.

To clarify stumbling block....

National wanted Huntingdale to pay half legals on due diligence before members at Huntingdale were informed of what the National proposal/takeover was. In my opinion makes no sense as a member of Huntingdale to not see an offer first.
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#108 Shanks4ever

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Posted 16 May 2019 - 10:49 PM


National wanted Huntingdale to pay half legals on due diligence before members at Huntingdale were informed of what the National proposal/takeover was. In my opinion makes no sense as a member of Huntingdale to not see an offer first.

Surely the deal was negotiated between the 2 parties, if so both parties should stump up half each?

 

Problem for Huntingdale as I understand it is they are in a position of weakness with a lot of debt, (clubhouse, car parks etc) is that correct?

 

If so all the potential suitors are proposing more of a "friendly" takeover rather than a merger. 

 

If I was Metro I would propose to Huntingdale the course be closed, with a new 9 holes comprising of renovated existing holes and new holes and a good practice facility built. The remainder of the land could be sold to developers with the necessary approvals. 

 

One strong club membership with 27 good holes and a good balance sheet could result. Would all the members combined fit on to 27 holes? Would the culture of the 2 clubs make for a happy merger?


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#109 Eaglehwk

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Posted 17 May 2019 - 08:15 AM

Surely the deal was negotiated between the 2 parties, if so both parties should stump up half each?

Problem for Huntingdale as I understand it is they are in a position of weakness with a lot of debt, (clubhouse, car parks etc) is that correct?

If so all the potential suitors are proposing more of a "friendly" takeover rather than a merger.

If I was Metro I would propose to Huntingdale the course be closed, with a new 9 holes comprising of renovated existing holes and new holes and a good practice facility built. The remainder of the land could be sold to developers with the necessary approvals.

One strong club membership with 27 good holes and a good balance sheet could result. Would all the members combined fit on to 27 holes? Would the culture of the 2 clubs make for a happy merger?

I don’t think Huntingdales debt is an issue. Apparently under 3 mill, car park was paid for from kind member donations/ Huntingdale foundation.

Many don’t see the debt as an issue.

I like your proposal of 27 holes. But as a golfing destination so close to the cbd 36 holes with Huntingdale greens to be rebuilt with pure distinction would be a good option? Could always sell in the future.

I think Metro members find Huntingdale too hard. Hence the reluctance to merge. A lot of the old guys from both clubs will die within the next 10 years. We need to look at the future.

Edited by Eaglehwk, 17 May 2019 - 08:16 AM.

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#110 westy5555

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Posted 17 May 2019 - 12:21 PM

The problem I suspect is that option of selling land to developers is no longer  really on the table given the **** fight at Kingswood from the local community who are up in arms at the prospect of development despite it being private land.  The developers paid $120m for Kingswood on the assumption they could develop it, but I understand the council is refusing to rezone it.  Maybe a compromise will be reached, but it will be a much scaled back development which means the real value is probably a fraction of what was paid for Kingswood, especially in a soft market. Kingswood was worth $120m for housing, but as parkland for the local dogs to **** in, it might be worth $10m if that.

 

So the notion that these clubs are sitting on a land value gold mine is probably a myth - as the gold mine land value is based upon  it being used for housing, which it seems will now not be allowed.    The new reality seriously changes the options that are available to these clubs.

 

Given the long common boundary, merging into a 36 hole facility might work, but there is the issue of these two huge gleaming new clubhouses, one of which is stuck up in a corner.  They would only need one, so the other would have to become a bingo parlour or  high class brothel.


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#111 Itchy4Scratch

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Posted 17 May 2019 - 12:40 PM

Different councils though. There is a heap of development going on around Metro and Huntingdale at the moment. Can't say the same in Dingley. 
 



#112 marcush39

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Posted 17 May 2019 - 05:11 PM

Assuming you’re a member of Huntingdale Eaglehwk, if you don’t mind me asking, what are subs there at present? Are they still charging the exorbitant joining fee? I looked at joining there in 2013 and played an introductory round. Loved the course and the club but found the fees way beyond my means.

#113 madness

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Posted 17 May 2019 - 06:59 PM

The problem I suspect is that option of selling land to developers is no longer  really on the table given the **** fight at Kingswood from the local community who are up in arms at the prospect of development despite it being private land.  The developers paid $120m for Kingswood on the assumption they could develop it, but I understand the council is refusing to rezone it.  Maybe a compromise will be reached, but it will be a much scaled back development which means the real value is probably a fraction of what was paid for Kingswood, especially in a soft market. Kingswood was worth $120m for housing, but as parkland for the local dogs to **** in, it might be worth $10m if that.

 

So the notion that these clubs are sitting on a land value gold mine is probably a myth - as the gold mine land value is based upon  it being used for housing, which it seems will now not be allowed.    The new reality seriously changes the options that are available to these clubs.

 

Given the long common boundary, merging into a 36 hole facility might work, but there is the issue of these two huge gleaming new clubhouses, one of which is stuck up in a corner.  They would only need one, so the other would have to become a bingo parlour or  high class brothel.

What's wrong with a low class brothel? Maybe the Kittens carwash would like to expand? I find it abhorrent that they're allowed to exist on that busy corner.



#114 Eaglehwk

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Posted 17 May 2019 - 07:14 PM

Assuming you’re a member of Huntingdale Eaglehwk, if you don’t mind me asking, what are subs there at present? Are they still charging the exorbitant joining fee? I looked at joining there in 2013 and played an introductory round. Loved the course and the club but found the fees way beyond my means.


Thanks for your question,
$10k joining fee can be split over 5 years, that’s what I’m doing.

Fees typical of sand belt: $5200

In my opinion the hardest sandbelt course in Melbourne tee to Green.

Great members too!

#115 Shanks4ever

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Posted 17 May 2019 - 07:49 PM

I don’t think Huntingdales debt is an issue. Apparently under 3 mill, car park was paid for from kind member donations/ Huntingdale foundation.

Many don’t see the debt as an issue.

I like your proposal of 27 holes. But as a golfing destination so close to the cbd 36 holes with Huntingdale greens to be rebuilt with pure distinction would be a good option? Could always sell in the future.

I think Metro members find Huntingdale too hard. Hence the reluctance to merge. A lot of the old guys from both clubs will die within the next 10 years. We need to look at the future.

I am curious as to who instigated the discussions in both instances. 3 million debt whilst not huge does not put Huntingdale in a position of strength. I think you might find suitors are more in the friendly takeover mould rather than merger.

 

 I would suggest Metro members in general are not enamoured with your golf course regardless of the perceived difficulty. As for the 2 relatively new Taj Mahal's, many a club has gone into significant debt for clubhouses that are only used to full capacity sparingly. 


Edited by Shanks4ever, 17 May 2019 - 07:49 PM.

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#116 Member Status Pending

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Posted 17 May 2019 - 08:48 PM

Thanks for your question,
$10k joining fee can be split over 5 years, that’s what I’m doing.

Fees typical of sand belt: $5200

In my opinion the hardest sandbelt course in Melbourne tee to Green.

Great members too!

 

Considering that pricing structure, any prospective member would be better off joining just about anywhere else. Huntingdale, whilst in theory a member of the 8 club "sandbelt" mafia, is clearly the orphan child behind the other 7, and if the group was reset, they would be replaced by Woodlands or possibly Spring Valley. Huntingdale's course is awful in comparison to its price point peers, and with the loss of the sandbelt card a couple of years ago (RM: we are sick of having our course flooded by Huntingdale bogans, and have no interest in playing their **** hole, we are pulling out!), Huntingdale are at a loose end with a stack of debt and trading at ongoing losses. Nobody will touch them, and rightly so. 

 

And forget about any merger with Metro - they think even less of Huntingdale than RM does. 


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#117 Eaglehwk

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Posted 17 May 2019 - 08:56 PM

I am curious as to who instigated the discussions in both instances. 3 million debt whilst not huge does not put Huntingdale in a position of strength. I think you might find suitors are more in the friendly takeover mould rather than merger.
 
 I would suggest Metro members in general are not enamoured with your golf course regardless of the perceived difficulty. As for the 2 relatively new Taj Mahal's, many a club has gone into significant debt for clubhouses that are only used to full capacity sparingly.

I am curious as to who instigated the discussions in both instances. 3 million debt whilst not huge does not put Huntingdale in a position of strength. I think you might find suitors are more in the friendly takeover mould rather than merger.
 
 I would suggest Metro members in general are not enamoured with your golf course regardless of the perceived difficulty. As for the 2 relatively new Taj Mahal's, many a club has gone into significant debt for clubhouses that are only used to full capacity sparingly.


I think the discussions were mutual. National need a city club, Huntingdale at that time we’re open to discussions.

I would suggest that members of Metro would enjoy the layout as part of a 36 hole complex rather than playing their same layout week in week out.

I agree it’s a shame both spent crazy amounts of money on their clubhouses.
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#118 Eaglehwk

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Posted 17 May 2019 - 08:58 PM

Any Metro members out there?

Be nice to hear some insights?

#119 Shanks4ever

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Posted 17 May 2019 - 09:13 PM

Any Metro members out there?

Be nice to hear some insights?

I think the post above by member status pending is probably a good generalisation as to where Huntingdale sits in the golfing landscape in Melbourne. 

 

ie a takeover target rather than a merger prospect



#120 Eaglehwk

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Posted 17 May 2019 - 09:19 PM

Considering that pricing structure, any prospective member would be better off joining just about anywhere else. Huntingdale, whilst in theory a member of the 8 club "sandbelt" mafia, is clearly the orphan child behind the other 7, and if the group was reset, they would be replaced by Woodlands or possibly Spring Valley. Huntingdale's course is awful in comparison to its price point peers, and with the loss of the sandbelt card a couple of years ago (RM: we are sick of having our course flooded by Huntingdale bogans, and have no interest in playing their **** hole, we are pulling out!), Huntingdale are at a loose end with a stack of debt and trading at ongoing losses. Nobody will touch them, and rightly so. 
 
And forget about any merger with Metro - they think even less of Huntingdale than RM does.


Interesting thoughts!

Are you a RM member? Probably can’t afford it, so where do you play?

I bet you couldn’t break 90 off the back tees at Huntingdale?

You obviously don’t play other sandbelt courses...probably can’t afford to do so. If you did half are worse in condition.





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