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Pelican Waters Golf Course acquired by over-50s residential developer

Pelican Waters Golf Course acquired by over-50s residential developer
December 9, 2018

The rise in over 50s residential development has seen the Pelican Waters Golf Course, together with an adjoining prime tract of undeveloped land, purchased by Queensland-based Palm Lake Resort.

The Greg Norman-designed championship golf course and 20 hectare development site - totalling 160 hectare, including the par 72, 18-hole championship golf course - near Caloundra was acquired for almost $15 million.

Pelican Waters Golf Course consistently ranks well up the field in Australia’s top 100 courses with its fairways and greens have played host to numerous visiting golfing and other sporting identities over the years.

The acquisition will see the golf course will continue to operate under the existing management while home park developer the Palm Lake Group will create its third Sunshine Coast over 50s lifestyle community on the undeveloped parcel.

Palm Lake Group develops residential land lease communities, retirement villages and aged care facilities in three states. Operating for more than 40 years, the family-owned business is a proven developer, builder and manager of assets.

Group Chief Executive Manuel Lang says it currently looks after more than 7500 residents across its various Palm Lake Resort and Palm Lake Care locations, with a further 1200 homes under development right now.

Lang stated “we are excited for Pelican Waters Golf Club members, as our redevelopment of the Club and the Greg Norman-designed golf course will exceed all expectations of quality and finish.”

He assured Pelican Waters Golf Club members that the Group aimed to minmise the impact of construction on the golf course.

Image: Pelican Waters Golf Course.

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