A strategic review of Mataura Licensing Trust (MLT) assets has led to a decision to put the old Croydon Lodge nine-hole golf course up for sale.
Real estate notices advertising the 3.16 hectare course's sale by tender appeared last Friday, with tenders closing on October 31.
MLT general manager John Wyeth said now known as Heartland Hotel Croydon, the Scenic Hotels Group-run facility was established in 1964, meaning the "gently undulating" course had seen plenty of history.
"As far as we know it's always been a leisure, rather than competitive, course, but it's certainly been an asset for the lodge over the years, " he said.
"We've obviously got mixed feelings about putting it on the market, but it's a strategic business decision we believe is in the trust's best long-term interests."
Funds raised through the sale were likely to be "reinvested heavily" in the adjoining hotel facility, he said.
Overseeing the sale on behalf of MLT was Ray White Gore principal Drewe Carran.
Ray White was positioning the sale as one of bare land, with options to retain the site's golfing origins, Mr Carran said. "This is prime land with arguably some of the best potential building sites on the Gore boundary, " he said.
"Recent sales in the nearby Waimea St area have been achieving premium prices above valuation, so we're expecting a lot of interest over coming weeks."
Although the potential to subdivide into "15 to 20" sections existed, Mr Carran liked to think someone might yet want to preserve it as a golf course.
"You could build an executive home and play golf in your own back garden 365 days a year, " he said.
"What an option."
- © Fairfax NZ News