THE former Eaglehawk Golf Course is on the market, but the land’s farm zoning could see it sold for a bargain.
A price guide of $2.3 million – $2.5 million has been suggested for the almost 100-acre property at 255 Golf Links Road, Maiden Gully.
Bendigo Golf Club president Andrew Johnston said the land would be worth ‘significantly more money’ if it was zoned residential.
He said the club originally intended to use the proceeds of the land sale to upgrade its Epsom course into a ‘destination course’.
It was unclear what improvements it would be able to make if the property sold for a sum within the price guide.
Mr Johnston said the club had been lobbying the City of Greater Bendigo for support to change the zoning since 2014. The council of the day was developing its residential strategy.
Bendigo Golf Club acquired the property during its merger with the Eaglehawk Golf Club the year prior.
“We have borrowings on this land. It is restricting our club from improving its facilities while we’re holding land that isn’t getting rezoned or redeveloped immediately,” Mr Johnston said.
The former Eaglehawk Golf Course falls outside the urban growth boundary – a parameter reinforced by the council of 2016.
“Council has suggested they will reconsider that in 2020,” Mr Johnston said.
Both the Bendigo Golf Club and the City of Greater Bendigo have recognised the area is likely to become residential in future. But it is unclear how far down the track that might be.
City of Greater Bendigo regional sustainable development manager Trevor Budge said the city had sufficient land supply for up to 20 years.
“There is no short-term plan to rezone this land residential but we definitely think it’s part of the long-term future residential plan of Bendigo,” he said.
Mr Budge said the process of rezoning land was quite extensive.
“The Minister for Planning approves all rezonings,” he said.
He said the council had to make strategic justifications to government about why any new areas had to be rezoned.
“Council couldn't justify rezoning that land in isolation,” Mr Budge said.
The former Eaglehawk Golf Course is open for expressions of interest until March 27.
Mr Johnston said the club had received inquiries from throughout Australia since the land was listed.
“This is an area identified by the city as a future growth area,” he said.
“This is an area where Bendigo people really love to live.”
Mr Johnston said the club was not in a position where it was forced to sell.
“The price may not be satisfactory for the club to accept at this stage,” he said.