The development, featuring 106 apartments to be built across two five-storey buildings on the eastern part of the golf course site (pictured below), is a joint proposal between the Golf Club, property fund group Charter Hall and Watermark.
As we previously reported here, Watermark (founded by Tony Olding, Chris Watt and Enzo Marchione) is partnering with property development business, Folkestone, which was acquired by Charter Hall in November last year.
Club president, Alan Hall-Watson, said the development will address declining membership numbers. Early planning documents say the club has been “trading at a loss” and was at “serious risk of failing”.
The move fits in with a state-wide trend of golf clubs redeveloping their courses into seniors living. Similar developments include Kevin Ryan’s Waterbrook 95-room retirement village at Sydney’s Bayview Golf Club, and Principle Living’s planned development at Newcastle Golf Club (see below story).