Heritage Golf & Country Club, Melbourne, For Sale

The asset is expected to arouse buyer interest from high net worth individuals, through to syndicates, or even the Club’s own members.

Sources speculate the combined assets should sell for between $12 million and $15 million.

Knight Frank director and marketing agent Michael Hede declined to comment about a possible price.

Last month it was reported in this column China-based investors and developers paid about $7 million for the St Andrew’s Beach Golf Course and resort on the Mornington Peninsula.

It’s also believed Asia-based developers are in advanced negotiations to buy Doncaster’s outgoing Eastern Golf Course site, in Doncaster Road, for about $100 million.

Coincidentally, the proposed Yering course the Eastern wants to relocate to, is near The Heritage. The proposed new Chirnsie Park Golf Course is nearby too, in Lilydale.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.