Members of the Hepburn Springs Golf Club have recently approved the acquisition of their golf course and assets by Golf Services Management (GSM).
The Club, which is its 98th year, owned the land, buildings and infrastructure. Although they explored the possibility of rezoning unused portions of their land for residential development as a way of finding much needed capital, this proved next to impossible. The land is zoned for recreational purposes. It is in a high risk fire area and its bushfire overlay means that the CFA would be highly unlikely to approve any proposed development.
The Club negotiated a value for the sale based on the asset values in its financial statements. For their part, GSM committed to clearing all of the Club’s liabilities, to provide discounted fees to existing members for a minimum of 5 years, and to make significant investments in capital improvements works to both the golf course itself and associated buildings.
Among the significant improvements planned are improved drainage and improved paths for golf carts. At times over the winter period, many holes are unplayable because of soggy ground. And to attract more visitors, golf carts are a necessity so improved paths and an investment in carts will be necessary if the course is to become profitable.
GSM also proposes to introduce innovative shorter versions of the game as a supplement to the traditional golf round, along with a host of associated activities designed to attract a new market demographic to the venue and drive increased utilisation of the facility.
GSM Director Ian Denny (right) pictured with Vic Delosa, Hepburn Springs Golf Club President. (Photo supplied)
GSM Director, Ian Denny said “We certainly never expected to be in this position and are saddened by the Club having to wind up after 98 years. GSM are committed to keeping the doors open for existing members and to driving new visitation by tapping into the thriving tourism market in the area with a new ‘open to all’ policy.”
Hepburn Springs Golf Club President, Vic Delosa said “The Club has been heavily reliant on volunteers who have been doing an incredible job for a very long time, however, the combination of an ageing and dwindling membership base and a lack of funds created a situation where the Club was facing insolvency. After exhausting all avenues to retain control of the Club, the Committee proposed to pass ownership to GSM contingent on undertakings to preserve the operation of the course for the benefit of existing members for a minimum of 5 years. Members supported the Committee’s proposal with a vote of 98% in favour of the motion.”
GSM, who operate multiple venues in Victoria, have a history of successfully transitioning struggling private Golf clubs into viable businesses – most notably St Andrews Beach and Peregian Springs. But there may be other factors driving their interest in this small, struggling course. GSM Director, Ian Denny grew up in Daylesford and his father was the principal of Daylesford Primary in the 1980s. And Ian was Junior Club Champion at Hepburn Golf Club in 1968 so he will undoubtedly have strong nostalgic feelings about the course.
The company will take over the operations from April 24, with a refreshed website and new trading information to be made available under the new banner of ‘Hepburn Golf’.
For further information, or for those contemplating a tree change and wanting to join our team in this exciting new stage for the venue, visit our website or contact management@gsmgolf.com.au
