For sale sign back on golf course
A 45-hectare golf course just outside the Hamilton city boundary that has seen some changes of ownership over the past 10 years, is up for sale again.
The Whatawhata property, on the market for $4 million, is freehold with an 18-hole course and a nine-hole pitch-and-putt.
A 894-square-metre club house has a shop and a licensed bar.
The property is in two titles and borders the Taitua Arboretum, as well as the residential subdivisions and lifestyle blocks on the Stonebridge Estate.
It is one kilometre out of Hamilton on the road to Raglan.
Won and One Ltd has owned the property for the past six years, after buying it from Charlie Choi, an Auckland-based Korean businessman and father of golf professional David Choi, in November 2006.
Choi paid $3.11m for the complex in March 2005, but did not disclose how much he sold the property to the Korean businessmen behind Won and One for.
Potential buyers with an eye to subdividing the property would have to sit on plans, as the property is currently zoned as a rural property in the council's operative district plan. This means it would be subject to rural zone subdivision rules.
Council regulatory general manager Nath Pritchard said turning the property into a country living, residential development would probably be inconsistent with the district growth strategy.
"If a potential buyer wanted an intensive subdivision, they would either need to apply for consent or need to do a plan change."
NAI Harcourts agent Brad Chibnall said the ideal buyer would look to run the golf course and retain the business operation, with the opportunity to land bank for the future.
"The likely buyer is probably someone who wants to continue it as a golf course, until such time as the city expands and it gets incorporated in or other redevelopment opportunities present themselves," he said.
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