The Vikings Group is selling the 18-hole Capital Golf Club at Narrabundah, after abandoning plans to redevelop the picturesque 30ha site into high-density housing and community facilities.
Subscribe now for unlimited access.
or signup to continue reading
Canberra developer Sotiria Liangis owns the nearby driving range and bought the Capital Golf Club eight years ago, but golfers, as tenants of the club, exercised their right of veto on the $3.8million sale and made a successful approach to the Vikings to buy the club. Asked if she was the buyer in the latest deal yesterday, Mrs Liangis said she was too busy to comment. The Vikings Club also said it was too early to identify the buyer.
Eight years ago, golfers were fearful of losing their course in a redevelopment and saw the Vikings as a better alternative owner, although speculation about the future of the club has since taken a toll on membership, with more than 130 people leaving since 2009. About 400 members remain.
After buying the golf club for $4.2million Vikings said it was unviable because of ageing infrastructure, high reliance on water, maintenance costs and declining revenue. Two units on the South Coast which came with the deal were subsequently sold. In December, amid widespread public concern about urban infill the then-planning minister Andrew Barr rejected any proposal to build a housing estate at the golf course.
Vikings Group president David Paull said the decision to buy the golf club in 2003 stemmed from the slowing economy's impact on discretionary spending and legislative changes which would have a significant impact on gaming revenue.
''The diversification was not a specific driver for doing something different, it was looking at what was the best use of that operation.''
Mr Paull said the new owner would have to apply to the Gambling and Racing Commission for a licence for the club's 30 poker machines.
A golfer who would not be named said members had been told their club had been sold as a going concern and would continue to be run by Pete's Golf Connection at the driving range.
''Long term, you never know what will happen in politics. There will be ongoing negotiations with the new operator. He needs us as much as we need him.''
He said members hoped the club's two ground staff and an apprentice would be offered continuing work.
Mr Paull said the sale was a good opportunity to keep the course as a golf course. Ground staff would be looked after, and could be included in the terms of the sale. He said contrary to speculation, the Vikings Group was not buying the Murrumbidgee Country Club, although that club had been open about a merger and willingness to work with Vikings to sustain its long-term viability.
''We are helping them and have done so for some years with a loan to keep them afloat. They are a very useful facility in the Tuggeranong Valley and a sporting facility we are keen to see maintained.''