Darren Bandy believes the Midlands Golf Club would have eventually ceased to exist had it not been for the intervention of a significant cash injection.
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And that is set to arrive following Wednesday’s decision by members to proceed with the sale of a large parcel of land.
The club’s chairman said 183 members voted unanimously to enter into a joint venture with Villawood Properties and sell the land known as Drew’s Paddock.
This 11.02 hectare block – which has been valued at $5 million – includes the current driving range facility and more land on the west side of the course.
Members also gave the green light to the board spending up to 20 per cent of any upfront payment received from Villawood Properties to procure a club strategy master plan, cover operational shortfalls and complete urgent works.
In a presentation given to members before Wednesday’s vote, it stated that the sale of Drew’s Paddock, as the block of land is known, is expected to provide Midlands with revenue of between $8 to $10 million.
Bandy told The Courier in October that the club had lost a substantial amount of money in recent years under its current business model.
But he believes this decision has helped shore up its future.
“If we didn’t do anything, eventually we would have ceased to exist,” Bandy said.
A revamped clubhouse and business direction is expected to be a focal point for Midlands.
Bandy said the mood was good among members at the meeting on Wednesday night.
“There was no negativity at all, so there’s a really good feeling around the club at the moment,” he said.
Bandy said the club was fortunate previous board members had the foresight to purchase the land in the early 1990s, which has provided the opportunity for the sale to go ahead.
Midlands Golf Club is gearing up to host the Victorian Senior Masters for the second-straight year.
The tournament is set for January 2018 and will carry prizemoney of $30,000.
