Sydney,27May2014-Aqualityresortstylegolfcourse andhotelinpicturesqueShellCoveisbeingtendered forlease through CBRE.
TheLinksShellCoveisa uniquecoastalgolfcourse locatedintheIllawarra regionofNSW.Oncevoted asoneofthetop50coursesinAustralia to play for under $50by GolfAustralia Magazine, itcoversan areaof approximately59hectares.
The course is anintegralcomponentofthe $1.5 billionShell Cove projectbeingdeveloped byShellharbourCityCouncil. The areaissettobecomea major newdestinationonthe South Coastof NSWwiththe completionofthe 300 berth ShellCoveBoat Harbour andMarina in2019.
The Scott Murray designed Par 71resortstyle golfcourseofficiallyopenedinJanuary2004.Facilitiesinclude asplit levellicensedhotelwithrestaurant and pro shop,functionroom,Sky/Tab gaming andonsiteparkingfor118vehicles.
Paul KapirisandColinStewart from CBREareundertaking a Request forTenderforthelongterm lease of the Propertyonbehalfof ShellharbourCity Council, whotookoperational controlin2008.
MrKapirissaidtendersare being requestedforalongterm leaseholdinterestof15yearsand2x15yearoptions, with Councilreaffirming itscommitment toretaining thecourseinrecognitionof itslongtermcomplementary attributestothe ShellCoveProject;the touristindustryand the Cityasawhole.
MrKapirisfurther noted“This isan excitingopportunityforan astute investortoimproveoperating performancethroughefficient and experiencedmanagement. The purchase ofgaming machinelicensesshouldalsogenerate additionalrevenue.”
MrStewart added“Thecoursehasan existingmembershipbase and agrowingregionalpopulationcatchmentsupported bysignificantprivateand publicinvestment”
The propertyisforlease byTender,closing 10 July2014 at 4pm(AEST).Contact PaulKapirison 0418838373orColinStewart on0407209956formore information.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.