Kingswood Golf Course sold to unlisted property fund manager

Kingswood Golf Course sold to unlisted property fund manager
Jonathan ChancellorSeptember 9, 2014

The unlisted property fund manager ISPT has bought the Kingswood Golf Course site in DINGLEY VILLAGE.

The 53 hectare site was sold following the merger of the Kingswood and Peninsula golf clubs last year.

The site was sold without zoning approval for residential use, with the potential for 700 plus homes.

Mirvac, Yarra's Edge and WA-based Satterley Property Group had been pinpointed as short-listed prospects to develop the site in Melbourne’s south-east.

The Australian Financial Review put its likely sale price as around $100 million.

The sale is being handled by Ernst & Young.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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