Asian interests snap up high profile golf resorts

Two of Australia’s most well known golf resorts have recently exchanged hands in deals with Asian consortiums.

The prestigious Noosa Springs golf resort on Queensland’s Sunshine Coast was snapped up by Hong Kong buyers for an undisclosed figure.

Noosa Springs Noosa Springs Golf Resort

The owners and developers, father and son Alan and Phil Starkey, have entered into a contract to sell the resort clubhouse, associated businesses and the remaining 23 vacant lots to Chinese investment company Noosa Springs Investment Pty Ltd.

General manager Phil Starkey said the investment company has completed many major developments across China.

“Of particular note is the Dragon Lake Resort in Guangzhou, China, that occupies 14sq km and includes two championship golf courses with 27 holes each, a five-star luxury hotel, various recreational and commercial areas and multiple residential zones.”

“The purchaser is seeking to expand its resort development internationally and has made investments in Singapore, Japan, Thailand and now Australia,” he said.

Meanwhile, a Thai hotel group has purchased The Cypress Lakes country club resort in NSW’s Hunter Valley for a reported $10 million from owners, Singapore-based Lasseters International.

Minor International acquired the resort and management rights to 125 strata-titled villas through its Australian entity, Oaks Hotels and Resorts.

The purchase also includes approvals for a 120-room hotel and two development sites, however it does not include the golf course – host site of the annual Jack Newton Celebrity Classic – or club house.

Estate agents for Lasseters are now pursuing the sale of the golf course with other interested parties.