The Pelican Waters Golf Club will rearrange its 18-hole course to accommodate 200 detached homes on block sizes ranging from 450sqm to 700sqm as well as 70 units and townhouses, The Courier Mail reports.
The Club first proposed the plan in 2012 and a development report filed last year shows the Club has not turned a profit since 2000.
“Independent forecasts conclude that Pelican Waters Golf Club will not generate an acceptable level of commercial return for at least seven to 10 years,” the report read.
It’s yet another case of a struggling sports club turning to retirement villages for a financial lifeline. The Merewether Golf Club in Newcastle, Lakelands Country Club in WA and the Burleigh Golf Club on the Gold Coast have all partnered recently with village developers to keep their doors open.