Rawhiti Bowling Club in Remuera, Auckland has been sold for $8.1 million.
BeGroup has been sold by tender to an investment company with plans to develop an upmarket retirement village, Bayleys says in a prepared media statement.
One of BeGroup’s directors and chief executive officer is Remuera resident Guy Eady who has worked in the retirement industry for the past 25 years.
He has also been a director of Oceania Group, Metlifecare, the New Zealand Aged Care Association, and the Retirement Villages Association.
In an email letter to Rawhiti Bowling Club members this week, club president Rod College says the sale price is “outstanding.”
The 5954m2 property, on a corner block of Rangitoto Ave, Rakau St and Ara St in central Remuera, has Auckland Council resource consent for up to nine dwellings.
BeGroup says it will develop high-quality dwellings for retirees.
Bayleys Remuera salesman David Rainbow says there were 23 tenders.
The sale comes as a result of dwindling membership making it financially unviable for the 100-year-old club to continue.
Members have joined other bowling clubs in the eastern suburbs, with the Glendowie Bowling Cub attracting 60 of them.
The club will remove its flag pole, honours boards and special rose bushes before settlement.
Many of the chattels, including the outdoor benches and drinking fountains, are being donated to other bowling clubs.
Figures from QV’s E-Valuer showed the median value for a residential property in Remuera is $1.36 million in April 2014, nearly double the $699,659 median for the Auckland region.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Harmoney, with $30m on hand, wants to be cash-flow neutral before raising new funds
- NZ dollar heads for 0.9% weekly gain as global fears see investors dump greenback
- Milk price rise has economists scratching their heads
- Spark's Revera wins IRD's data centre contract for business transformation
- Innate Immunotherapeutics co-founder sues for royalties from sales of patented products