To provide an overview of the detail in which the market assessed the site the following summary of enquiry feedback is listed below. Golf Course Owners / Operator / Investors:

There was limited interest from this sector. The golf course was in receivership before (10 yrs ago) so some groups had commented that they did not feel that it would be a viable venture given the current state and track record. Sporting / Recreation Groups and Schools

We have received limited interest from this sector due to the distance from major schools and other facilities. Given that the land is also undulating and was heavily impacted by flooding it would also require a substantial amount of bulk earthworks etc. to provide level fields.

Development Sector

Given the location of the site the majority of interest has been received from the development sector. The current zoning of “Open Space and Recreation” and the previous refusal of the application for residential development coupled with the very high number of objections lodged against the DA have been seen as the major deterrent with most groups who have undertaken any investigations in relation to the future development prospects.

Sale Analysis*
Method of Sale:Tender
Sale Date:February 2013
Total Offers:5 (3 different groups)
Total Realisation:$800,000