An Australian group has appointed an investment firm to review eight golf courses in the UK, in order to build 3,000 homes around them.
According to Bloomberg News, Bangarra Group has appointed Fairway Capital to review its Crown Golf portfolio. The company is drawing up plans to build more than £1 billion-worth of housing on land surrounding the eight courses, in one of the first major tests of the UK government’s push to develop the nation’s green belt.
The eight courses, all located in southern England, span about 1,500 acres of land. The aim is to build 3,000 homes, about a third of which will be classed as affordable.
The project is likely to take about six years to complete.
The portfolio — which will see the golf courses retained — includes the St Mellion Estate (pictured) in Cornwall.
“Efforts to re-purpose the land holdings for housing had been hindered by restrictive planning policies and a reluctance to develop greenfield or rural land,” said George Brooksbank, chief executive officer at Fairway Capital.
“Grey belt and greenfield sites offer a faster, more viable alternative to complex brownfield projects.”
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