Magazine - Golf Club Resort for Sale - at $8m

By Editor in Golf on 25th Mar 2010 8:00

Victor Harbor's golf course and 62-room hotel complex, the McCracken Country Club, is on the market for $8 million.

Country Club Hotels & Resorts chief executive Andrew Bullock said investors were moving on to new projects after building up the site over the past 10 years.  "Now is the right time. We think the signs of recovery in the hotel sector have been pretty sizeable . . . (and) South Australian tourism has been fairly resilient," he said.

"The property is fairly unique, though.  " We think the buyers will be out there regardless of the environment.  "But there is an enormous flow-on to the community, not only through salaries and wages but through purchasing and local distributors of fruit and vegetables.

"Whoever buys the property will still require (our) 70 staff and they will still need goods and services."

The sale includes the par-72 golf course and 62-room hotel complex, with convention centre built in 2005, and 14 lakes. Victor Harbor chief executive Graeme Maxwell said the sale was significant as the resort was not only one of the area's biggest employers but was also a big supporter of the community.

He believed it had been performing well "so an incoming operator is likely to want that to continue".

Source & More: www.adelaidenow.com.au

Read more articles in Golf, by Editor or from March 2010.