Ocean Dunes Golf Course has been sold, and the new owners intend to develop a new clubhouse and much-needed accommodation for broader appeal.
Ocean Dunes – deemed in the top five of Australian public courses – is set to undergo major upgrades, having been sold for an undisclosed sum to a Melbourne-based consortium of investors.
The plan by the new owners is to turn the King Island facility into a destination course that will attract tourists from all over the globe.
Chairman of the Ocean Dunes board, Andrew Mitchell, told Australian Golf Digest: “We have never seen the course in as good a condition as it is now. Ocean Dunes and King Island is definitely open for business. With hopefully the worst of the impacts of the pandemic over the past two years behind us, we can look forward for golfers to come and play quality links golf.”
Sale of the Club was through Paul Mason Real Estate, which notes golf has seen a massive uplift in popularity during the pandemic.
The agency also has the freehold of the nearby King Island Hotel for sale, marketing a six per cent cap rate, and portends demand is set “to explode” in the area for accommodation and hospitality assets.
“Licensed premises remain a quality investment,” says Mason. “They are typical of any prime property in a prime location, and attract a lot of interest.”