Cranbourne Golf Membership in Melbourne’s south-east has been offered to a former AFL footballer for a reported $190 million price ticket.
Golf sources consider the value is a few $40 million above the preliminary determine at which expressions of curiosity have been canvased.
The 70.4ha parcel of residential zoned land has been bought by former AFL participant Fraser Brown’s improvement firm, Brown Property Group, no strangers to golf course redevelopments, having efficiently accomplished the renovations of the Amstel Golf Course.
The positioning was put up on the market in February this yr after it had been rezoned as a web site for residential improvement.
Senior director of LAWD, Peter Sagar, the agent for the property deal instructed Information Restricted that there was over 20 written provides for the positioning from a number of the trade’s most distinguished gamers, permitting the corporate to safe a strong unconditional supply.
It’s understood the corporate dealing with the sale acquired provides totaling greater than $3.5 billion.
The Cranbourne web site is predicted to maintain an estimated 1350 new properties, with development set to start in mid-2026.
Within the early 1950’s Jewish golfers have been denied entry to lots of Melbourne’s established golf equipment, so a gaggle of Jewish businessmen got here collectively and established the Cranbourne Nation Membership, earlier than then turning into landlords for the Cranbourne Golf Membership.
Former AFL participant Fraser Brown’s property group has bought the Cranbourne Golf Membership web site.
The golf membership, the de facto dwelling for Jewish golf because it opened in 1954, has a strict non-discrimination constitution and welcomes everybody, no matter race, color, gender or faith.
Over the previous few years, social and business forces have created choices for a lot of Cranbourne golfers to seek out beneficial alternatives at different golf equipment, which in flip led to a diminution within the monetary viability of the golf membership, finally resulting in the choice to promote the land. The course will shut in early 2026.
The golf membership hosted the Australian Beginner Championship in 2022 – a measure of simply how extremely it’s regarded and has just lately been introduced because the co-host with for the 2025 championship to be held subsequent January. It has additionally hosted Victorian Open’s and the Victorian Pennant ultimate on quite a few events.
While Jewish golfers are now not excluded from most golf equipment, there may be some heartache over the sale with the writer of the membership’s historical past Les Kausman telling the Australian Jewish Information that whereas he supported the sale of the land, “it will likely be an especially unhappy day for the individuals who have accomplished a lot for the membership.”
The unique 300-hectare web site was first bought in 1954 for simply 20,000 kilos, whereas it’s understood that the entire sale proceeds shall be utilized in the direction of sporting and different initiatives for Jewish youth and the broader Jewish group.
