Meanwhile, Chinese investors have set their sights on
Victoria’s Albert Park public golf course. Businessman and
developer Wang Hua – who has interests in two Toorak
properties, a winery and a golf course in the eastern
suburbs – is believed to be behind an offer to buy the
operating lease.
According to reports out of Victoria, the off-shore
buyer plans to build an indoor driving range, reception
centre and a hotel at the northern edge of the 18-hole
championship course if the bid is successful.
Meanwhile, JHC Subsidiary, headed by Peter Huang, has
bought the Kooralbyn Resort from the receiver for an
undisclosed sum. That’s good news for avid golfers who
will undoubtedly cheer from the rooftops simply because
Kooralbyn has one of the best layouts in the country.
Sadly, Kooralbyn, situated in the Gold Coast hinterland
and 64kms south of Brisbane, was left to rot when it
closed a few years ago.
Peter Huang, who owns Yong Real Estate at Sunnybank,
said more than $10m would be spent on renovating the
golf course and resort facilities.
One Kooralbyn real estate a