Moonah Link’s golf resort which is located at the Mornington Peninsula is currently under the possession of Chinese investors. It was claimed that Paddy Handbury who is the cousin to one of the wealthiest guys in Victoria Rupert Murdoch put on price the glamorous result and it took no time before the Chinese buyers came knocking.
Reports have indicated that the resort which comprises of two golf courses as well as a luxurious hotel based in Fingal near Cape Schanck would cost the Chinese buyers a total of $A18.5 million.
However, Blake Ammit the chief executive officer of Handbury Group made the announcement of the sale of the resort but did not stipulate the actual price tag. He claimed that the new owners emanated from the Chinese consortium as well as the Chinese-Australian businessmen who run their businesses at the Peninsula International Group. However, the resort didn’t include the 18-hole course and resort of The Sands Torquay which still remains at the hands of Mr. Handbury.
Moonah Links has an extra certified parcel that has an empty land that could be used for its expansion. According to Ammit, the new owners would maintain the course but would incorporate the new land which would be a new expansion ground for the resort.
The consortium member have their stakes in the investing firm of Chinese-Australia a company that has its base in Australia and China and intensifies its growth by investing in big hotels and resorts. This is a positive indication to the firm which recently has been curbed with diminishing membership as well as slow-moving sales. This was according to Golf industry consultant Jeff Blunden. He claimed that it is good to see the existence of a willing buyers and sellers and believed that they would expand the golf course which is seen as the biggest golf asset based in Peninsula.
Moonah Links has been involved in various Golf tournaments most notably the Australia Opens that took place in 2003 and the resort has been branded as the “The Home of Australian Golf”. However not all professional golf tournaments are held there as NSW has been playing host too. Ammit claimed that the NSW has been the bitter rival competing to host these events but he believed that the new expansion of the resort would see more events held at Moonah Links.
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