By: Darius Oliver
From the Advertiser in Adelaide, comes news that the debt-riddled Port Hughes development on the Yorke Peninsula is set for a $2.5 million expansion. The ambitiously conceived residential project features a 9-hole course designed by Greg Norman Golf Course Design, around two hours northwest of Adelaide.
The Dunes Port Hughes was placed into receivership in 2012 with debts in excess of $10 million, and only half of the Greg Norman holes completed. The club that operates the golf course now has around 180 members, and demand for land in the area has apparently returned to the point where an additional 38 home sites are being made available.
While it seems a long way from secure, the expansion will no doubt please the local council and golfing residents. A few hundred more and there might be enough demand to build those additional holes.
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THE once troubled Port Hughes golf course and resort is undergoing a $2.5 million expansion ahead of the potential development of a new clubhouse, function centre and tourism accommodation.
Early works are expected to be complete in October on a new 38-allotment subdivision at the The Dunes – the first major expansion since the project was saved from receivership five years ago.
Project director Kevin McGuinness said 10 of the blocks had been pre-sold in what he said reflected a renewed confidence in the Yorke Peninsula project.
“It really reflects the fact the project is moving forward in a positive way,” he said.
“This development is clearly pitched at giving the local community and particularly other markets that it’s moving forward.”
The resort, and its Greg Norman-designed nine-hole golf course, were placed into receivership in 2012 with debts of $13 million.
Bendigo and Adelaide Bank subsidiary Rural Bank, which was owed more than $8 million, took over control of the residential component of the project in 2013 after a failed attempt to sell the undeveloped land.
Mr McGuiness said there would be about 230 allotments in the development once the new stage – dubbed Stage 1C – is completed.
He said golf course membership has doubled in the past three years to 180 members and 80 per cent of existing housing blocks had been sold.
“All signs are very positive ... it’s probably fair to say three to four years ago there were question marks about whether it would survive but we’re now well and truly past that, it’s now about developing the estate,” he said.
He said a new clubhouse had been approved which could cost somewhere between $2 million and $3 million.
In June 2015, the Copper Coast Council approved a $500,000 loan towards the project.
Mr McGuinness said further funding of between $300,000 and $500,000 could come through credits on future development sites.
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