Top 10-ranked King Island golf course still on the market

One of Australia’s most stunning coastal golf courses is still up for grabs – and now it’s ranked as one of the best in the country.

King Island’s Ocean Dunes course hit the market in late 2017, and while the expressions of interest campaign has ended, agents say it remains on the market and they’re still fielding enquiries.

Already acknowledged by Golf Australia magazine in 2017 as the fourth-best public access course in Australia, Ocean Dunes was last month ranked alongside established and esteemed courses including Kingston Heath and Royal Melbourne, as the number eight course overall.

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Opened less than two years ago, the 18-hole course snakes its way along the King Island cliffs, offering some of the most stunning golfing views anywhere in the world.

It also comes with a clubhouse overlooking Bass Strait, as well as the 13-room King Island Hotel.

Comac Retail Property Group agent Paul Mason, who is marketing the course and hotel in conjunction with Guy Wells from Colliers International, could not reveal which groups had made a play for the property, but says interest has been high both locally and abroad.

The Ocean Dunes course is ranked in the top 10 in Australia.

“We’re dealing with a high-profile Tasmanian investor, a major institutional company that is involved in the entertainment industry in Australia, and three international groups as well – (including) one from Singapore and one from Hong Kong,” Mason says.

“We’ve shortlisted a number of prospective people that we’re dealing with.”

The course’s listing comes after the sale of nearby golf course Cape Wickham – also on King Island – which sold for $16 million earlier last year.

Previously, Wells said the opportunity to expand Ocean Dunes’ operations would be a key driver in investor interest, as there is already planning approval in place for a larger clubhouse and more accommodation.

“The benefit of the planning approval for a more permanent clubhouse, 21 motel suites and 80 visitor accommodation units truly sets Ocean Dunes apart in the market,” Wells said.

“The property has potential to become the base for a King Island experience, both as a stay-and-play golf destination but also as the island continues its tourism resurgence.

Mason says price expectations for the golf course are now more than $16.5 million.