The Longyard Golf Course in Tamworth is for sale, potentially fetching up to $14 million according to co-selling agents, the Commercial Collective.
The property offers an 18-hole golf course, a licensed club and three luxury townhouses, all of which is seen as a good investment opportunity.
Some of the included land is also approved for medium density housing. These three hectares could allow for up to 130 new dwellings to be added to the existing site, subject to council approval.
Under R1 medium density housing rules in New South Wales, a variety of residential options might be available such as townhouses and flats, as well other related community facilities.
Since coming onto the market in May, there has been a positive response and national director at Commercial Collective Adam Leacy says there’s even been international interest, particularly because Greg Norman designed the course.
“It’s one of the first courses designed by Greg Norman here in Australia,” Leacy said.
“Sitting off to the side of it is the three hectare parcel of developable land as well, so the opportunity here is to buy a golf course and development site in one or separately. There’s flexibility.”
Norman created the championship-level course with famed designer Bob Harrison in the late 1980s. It runs over 6,000 metres and is known for its hilly greens and water hazards.
It’s also well-situated 10 minutes south of Tamworth’s town centre, close to the Tamworth Sports Dome and the Australian Equine and Livestock Events Centre.
This location makes it an attractive spot to potentially add more homes where they are needed, while also keeping the golf course operational, says Leacy.
“From the supply and demand point of view there’s a real need for more accommodation in Tamworth, let alone exactly where this facility is located,” Leacy said.
“Given the fact that golf courses are hard to come by and the growth of Tamworth as a regional hub, there’s ultimately room for growth and more memberships.”
“There’s also a conceptual draft plan proposed to build a motel on the site because of where the facility is in relation to the equine centre and sports facilities in Tamworth.”
The onsite club offers a prospective buyer further value. Named the Windmill Tavern, it’s the only licensed hotel in the local precinct. It features a bistro, outdoor seating, a private function room and kids playground.
Altogether the Longyard property presents a rather rare opportunity as it’s often regarded as one of the best golf courses in the region and even Australia-wide.
Over the last 20 years it has been privately owned and operated by the same family, who simply felt it was now time to sell, Leacy added.
The sale is being managed by Colliers in conjunction with the Commercial Collective in Newcastle.
Expressions of interest close on Thursday, 19 June.
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