Grafton golfers selling land for aged care centre.

By Darius Oliver

In what has become an increasingly familiar story, the Daily Examiner Newspaper in NSW is reporting that members of the Grafton District Golf Club have voted to sell their 10^th and 11^th holes to an aged care provider, in order to provide a much-needed cash injection.

The club had apparently planned a small 14-block subdivision, but was approached by aged care developer Signaturecare to instead convert the land into a 144-bed facility. The change was supported at a meeting of members recently, and subject to council approval will yield the club approximately $2.2 million.

Club President Trevor Townsend was reported in the newspaper as suggesting that funds will be used to renovate the golf course and that the aged care option would lead to greater activity and business in the clubhouse.

From the Daily Examiner article:

GRAFTON District Golf Club members have taken the first steps to banking a $2.2million windfall for their club by voting to support the controversial sale of the former 10th and 11th holes.

Golf club president Trevor Townsend said the club would double the amount of money it could make by selling the land, originally planned for a 14-block subdivision, to aged-care developer Signaturecare.

Last month the club revealed it had been approached by the developer to buy the land for a proposed $35million, 144-bed aged care centre.

Last week, 187 members attended a meeting to vote on changes to the club's constitution to clear the way for the sale and to give approval for the sale.

Mr Townsend said more than 90per cent of members voted in favour of each motion to approve the sale, but it would be at least six months before a final decision could be made.

 

He said the club would also retain three of the 14 blocks in the original plan, which added even more value to the deal.

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