Magazine: Gulf Harbour Course Under Receivership
By Editor in Golf on 30th Jun 2008 6:00
Receivers have been called in to dispose of one of the country's most prestigious golf courses. 
Gulf Harbour Country Club, which has twice hosted the New Zealand Open, is on the market as a result of the collapse of the Blue Chip group of companies.
Receivers took over at Gulf Harbour Country Club this week and the manager resigned on Friday.
The swanky 600-member club is owned by former Blue Chip boss, Mark Bryers. The property finance company collapsed earlier this year, taking $80 million of investors' money with it.
It's understood the country club sale is being forced by receivers for Capital and Merchant Finance - which itself got into trouble last November.
This 6,400 metre, par 72 golf course is located at Gulf Harbour on the Whangaparaoa Peninsula, just north of Auckland. It meanders through native grasses and vegetation and has a natural look and feel from start to finish.
Four sets of tees assure playability for every calibre of golfer, from beginners to professionals. Like all great courses, Gulf Harbour tantalises players with a variety of exciting holes. Several feature risk and reward opportunities, and none are tricked-up or artificial.
Michael Campbell is the Touring Professional for Gulf Harbour Country Club in New Zealand.
Source: tvnz.co.nz/view/page
| There are 1 comment on this article |
04 Jul 08 by rob@pitchcare.com.au
Gulf Harbour Country Club members may have their own golf course in the bag if negotiations are secured with Blue Chip receivers.
Earlier this year Blue Chip took a plunge and investors incurred substantial loss.
Two receivers for the finance company are now working on an agreement to sell the course and facilities to club members.
Grant Thornton and receiver Tim Downes says they are protecting assets until the club is sold, and they are ensuring the stability of the club until that process is complete.
A conditional contract has been signed with club representatives. Mr Downes has been negotiating terms of the deal.
Post your own comment on this article
 "Gulf Harbour Country Club")
 "Gulf Harbour Country Club")
This 6,400 metre, par 72 golf course is located at Gulf Harbour on the Whangaparaoa Peninsula, just north of Auckland. It meanders through native grasses and vegetation and has a natural look and feel from start to finish.
