Section owners at Taupo’s Kinloch Golf Resort, who had their lifetime golf memberships revoked two weeks ago, are meeting the course’s new owner tomorrow to plead their case.
The meeting is being organised by real estate firm Bayleys, which sold some of the affected sections.
It will include an overview of the new owner Coromandel Investment Trustees’ “ongoing operation of the golf course and proposed strategy for development of the project.”
“We request section owners attend in a positive and reasonable manner,” a letter to owners says.
Titles in “The Fairways” subdivision, which is adjacent to the greens of the Jack Nicklaus-endorsed Kinloch Golf Resort course, were marketed as including a free “Kinloch Club” membership worth $25,000.
But in early November, owners received a brief letter from the golf course’s owner Coromandel Investment Trustees, which bought the resort in a mortgagee sale in July.
“Due to the unfortunate circumstances of a mortgagee sale of the remaining sections within The Fairways subdivision, we wish to bring to your attention that ownership within The Fairways subdivision does not entitle the owner to free golf at The Kinloch Club,” it said.
“We welcome your patronage to The Kinloch Club as a green fee paying guest.”
The green fees at Kinloch for a local player are $175 per round from December until April, and $160 in the low season.
Owners, including a family that poured $1.7 million into Blue Chip, were furious at the change.
Coromandel Investment Trustees is backed by a company owned by the Rich List van den Brink family, and Hanover Finance, which instigated the original mortgagee sale of the course.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- ASB's Nathan Penny says milk prices will continue to lift, following today's 50c increase to Fonterra's milk price forecast
- A2 Milk chief executive Geoff Babidge on his company's progress
- Meridian CEO Mark Binns on electricity demand, pricing, competition and innovation
- Genesis Energy's Marc England explains how the company can keep market share
- ‘An abrasive guy but he knows how to hustle the cash’ – Bill Ralston on TVNZ’s new commercial director