Wil­lows Golf Re­sort gets fi­nan­cial lift

Townsville Bulletin - - NEWS - TONY RAGGATT tony. raggatt@ news. com. au

WIL­LOWS Golf Re­sort is set for new own­er­ship with an “ex­cit­ing” out­come for the club, its mem­bers and the com­mu­nity, ac­cord­ing to the re­sort’s golf pro­fes­sional Josh Tin­dale.

Mr Tin­dale was com­ment­ing af­ter re­ports the one- time c h a m p i o n s h i p - s t a n d a r d course is again in fi­nan­cial strife with com­pany records show­ing its owner has been placed into ad­min­is­tra­tion.

John Vardy and Ja­son Porter of Syd­ney- based in­sol­vency firm SV Part­ners were ap­pointed ad­min­is­tra­tors to SPC & Co Pty Ltd on Tues­day.

SPC & Co, led by Syd­ney man Emil­ios Demetriou, is listed as the owner of the 66ha course at Nine­teenth Av­enue, Kir­wan.

Mr Tin­dale re­jected sug­ges­tions the club’s own­ers were in fi­nan­cial strife but he de­clined to com­ment on sug­ges­tions se­cu­rity guards vis­ited the club on Wed­nes­day and changed locks to the premises.

“All I can say is there is a new owner,” Mr Tin­dale said.

“Ev­ery­thing is pos­i­tive and ex­cit­ing for the golf club, for mem­bers and the com­mu­nity.

“Ev­ery­thing is trad­ing as al­ways. We are wel­com­ing all our guests. It’s a cham­pi­onship course ready to go.”

Mr Tin­dale said the new own­ers would be in con­tact.

Ac­cord­ing to sources, mem­bers are be­ing told a de­vel­oper is buy­ing the course.

Mr Demetriou ac­quired an in­ter­est in the golf course be­fore it fell into ad­min­is­tra­tion and liq­ui­da­tion in 2010 when it was part- owned by for­mer Townsville busi­ness­man and A- League NQ Fury fran­chise founder Don Mathe­son.

It is un­der­stood Mr Demetriou and an­other in­vestor ac­quired the club in 2010 when they paid out the mort­gage to the club’s se­cured cred­i­tor.

Mr Demetriou or a spokesman for the ad­min­is­tra­tors could not be con­tacted for com­ment.

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