Mirvac to sell off Gainsborough Greens to Halcyon

High-profile property developer Mirvac will sell off the popular Gainsborough Greens golf course on the Gold Coast after agreeing to a deal with over 50s community developer Halcyon.

It is believed Halcyon has entered into a contract to buy the golf club (and course) plus a 34ha residential development site at Pimpama which would give them about 114ha all-up.

Gainsborough Greens Gainsborough Greens

According to Mirvac’s head of residential, John Carfi, the plan always was to offload the golf course to focus on its core business.

“Mirvac is not a golf club operator and we wanted to ensure the long-term future of the course by finding the right owner, who could deliver a new and improved offering for our residents and the wider community,” Carfi said.

“While we fielded a number of offers for the course, this deal was really a win-win for all involved.”

Mirvac has owned Gainsborough Greens since 2006 when is bought the golf course as part of a 367ha site it bought jointly with former listed Gold Coast property financier and funds manager City Pacific for $100m.

It is believed the sale will go through mid-year with the Gainsborough Greens Golf Club to continue being operated by GC Golf Management.

Halcyon has also committed to developing a new and improved golf, function and community centre which will be on the western side of the golf course, alongside a proposed 500-home over 50s ­resort community.

The existing clubhouse should continue to operate until a new facility is completed and expected to open in mid-2018.