Eastern Golf Course on Track to Sell to China Based Developers

A CHINA-based developer is believed to be paying more than $100 million for what is the biggest development site put to the Melbourne market in recent years.

The offshore group is expected to be announced within weeks as the buyer of Doncaster’s massive 47 hectare Eastern Golf Course, about 15 kilometres east of town.

The 86-year old course is expected to be redeveloped into a $1 billion village of shops, offices, and apartments, after the club relocates to an as-yet-unbuilt development in about 2013.

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MAB Corp Frontrunner to Buy Doncaster’s Eastern Golf Course For $120 Million

Tullamore @ The EasternMAB Corporation is believed to be the mystery buyer of Doncaster’s Eastern Golf Course site.
Well placed industry sources say the St Kilda Road-based privately owned developer is the frontrunner to buy the property, after offering to pay about $120 million to secure the 47-hectare site between the Eastern Freeway and Westfield Doncaster, about 15 kilometres east of town.
The 85-year old golf course, which includes native vegetation, indigenous trees and the historic Tullamore homestead, will be vacated in about 2013, when the Club relocates to an as-yet-undeveloped course abutting the Yering Gorge, in the Yarra Valley.
After that time, the new owner is expected to redevelop the Doncaster Road site into a $1 billion village of shops, offices and apartment towers. The majority of what is now a popular 18-hole golf course is expected to be subdivided into as many as 1,000 housing lots.

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