Australia: $71 million project involves club relocation

A joint venture between Horton Park Golf Club and investment bank Babcock & Brown proposes to relocate the golf club from its current location in Maroochydore to a new 185-hectare site in Forest Glen.

The proposed redevelopment would cost $71 million but is projected to yield up to $271 million in profits.

Redevelopment of Horton Park Golf Club in the new location would include two championship golf courses, a new clubhouse and new practice facilities.

The project would also include construction of 4,000 residential units, 60,000 square meters of retail space and 100,000 square meters of commercial and office space. Approval of the project is still pending.

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