Uncertainty remains over how much say Pegasus residents will have in the proposed redevelopment of their golf course.
Wolfbrook Properties plans to turn the 80-hectare site into new housing.
Nearly 1000 residents packed a community meeting last night to discuss next steps, and raise fears of limited public consultation.
Pegasus Residents group president Matt James joined the Afternoons team to discuss further.
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Speaker 1 (00:09):
You're listening to a podcast from News Talk zed B.
Follow this and our Wide Ranger podcasts now on iHeartRadio.
Speaker 2 (00:16):
Pigas's township hopes to buy back the golf course from
developer Wolfbrocker Pact. Public meeting was hold to listen to
the district's mayor, local MPs and others to discuss options
going forward. Joining us now is Pigass Residence Group President
Matt James. Matt, Very good afternoon to you.
Speaker 3 (00:33):
Good afternoon.
Speaker 4 (00:34):
Can you tell us the situation from your perspective as
the Residence Group president.
Speaker 3 (00:41):
Matt, in terms of the news of last night.
Speaker 4 (00:46):
Or the open Okay, okay, Well let's go back then.
What so when the original owner sold the golf course,
was the expectation that would remain a golf course, Well,
you can.
Speaker 3 (01:00):
Actually sell the golf golf course. He went into liquidation.
He went into liquidation because you didn't pay his bills.
The P and L courses was solid and that's why
we had as part of the tender process, we had
at least to operators, maybe more golf operators who were
prepared to invest because they saw the opportunity within it.
Speaker 4 (01:21):
So what you're saying is that the golf course was profitable.
There was other reasons why it went into liquidation, to
deal with other properties or other business problems.
Speaker 3 (01:30):
Yeah. Basically, Yeah, the earnings the previous only made. He
didn't pay his iod obligations and other people, so that
the actual and lying financials were fine.
Speaker 4 (01:43):
And what percentage of the town do you think moved
there because there was a golf course there?
Speaker 3 (01:50):
I think most people moved to Pegasus because of the
overall vibe of which the golf course was a part.
We have the golf course, we had the lake, We
had this kind of leisurely recreational feel to the township.
So it's not exclusively that, but it was a big
draw cottage. You draw updrive et peckass that's one of
(02:12):
the first things you see big green spaces is a
great community asset.
Speaker 2 (02:18):
So what does mortgage e saale? Because that's how got
ahold of it right. What I can't understand, Matt, is
at that point a mortgage e sale, it's usually floated.
Speaker 3 (02:26):
Yep.
Speaker 2 (02:26):
Sometimes developers get a heads up, but it is primarily
public at that stage. Why wasn't it floated that this
was a real possibility and heads were put together to
try and get a hit of Wolfbrook.
Speaker 3 (02:39):
Well, remember our understanding is Wolf came quite late to
the piece. There were absolutely community people working on proportnersers
and then put pictures in. Remember the MORTGI process is
very very quick. The time needed for the whole package
to be put together is very limited. But we absolutely
have had an existing golf company from the Pumpson North
(03:03):
and we had a local consortium bidding there. Now we
understand that they felt that they weren't given the chance
to up their bid. I can't I wasn't involved with
that process, but that's what I'm hearing, and that their
original to p very very close to that which Wolf
brought the course for.
Speaker 4 (03:20):
Do we have any idea because I'm hearing the number
six or seven million dollars, which doesn't seem a lot
for seventy seven acres.
Speaker 3 (03:28):
That's what I'm hearing too, I mean that was amount
of money we've seen a batting around. As I said,
the other bid is the Golpriders would bang on really close.
And so yeah, it's quite of disappointing that we didn't
give the opportunity to maintain at the golf course.
Speaker 4 (03:43):
So what are your options now?
Speaker 3 (03:46):
Well, there are really twofold. So one is to try
and open negotiations with wolf Brook with the Council's support.
The council woun't connected to a body which would help
bring people together to form a strong bid and to
put that over there. Of course wolf could be open
to entertaining that as an option and at the end
(04:09):
of the day they don't have to excel it, but
we would hope they mont consider that. Yeah. The other
adoption is to have our say in any plan change
process that goes forward the wolf Brookers if they want
to use a fast track process, which is a concern
to us because it limits some of the voices which
are heard in the pro processes. But as you you know,
(04:30):
we've had a local mpage, we had a local council,
they are all very much in our call. We've had
a locally, we've got a crementional support who to go
forward and help us that application process. But really their desptions.
Speaker 4 (04:43):
We have because it seems so if you I've got
no idea on the mass of it, but if you're
saying seven, if there's seventy seven hicct is and it's
going to be developed as properties, that seems like it
could be well over a thousand properties there, So the
value of the lands, you know, for Wolfbrook. Have they
come along and gone, well, we've got this incredible deal here,
We've we've got for seven million dollars speculating we've got
(05:06):
the ability to make so much more money. So would
you be negotiating with them on how much money they
could potentially make from the situation or negotiating on how
much they originally paid?
Speaker 3 (05:19):
Then the question is how much they can realize. Yeah,
there's a lot of restrictions on their use of that
land we have to challenge or have not challenge. You
have to consider whether to some extent, well took a
bit of a gamble. I don't know how much they're
aware of the restrictions on the land and the cultural
significance of the land, but I think that pass of land,
(05:42):
even than at its best, would be a lot less
valuable for them to do developments on that maybe they
originally foresaw, and so that business case would have to
be challenged in my personal opinion.
Speaker 4 (05:55):
Speaking of personal what would it mean to you personally
as a resident if this golf course disappeared.
Speaker 3 (06:04):
I'm not a golfer and I don't have a home
on the golf course here locally for twenty three years
and actually in Pegasus itself since twenty nineteen. The reality
is any change has a huge impact on our general infrastructure.
We have our roading, we have our schools. Both are
(06:24):
challenges at the moment. School practically full, our health centers
practically full and taking a waiting list. The roading now
people are committing into christ each in the morning is
a big weight. It to be a huge impact to us. Plus,
people built around the golf course with the knowledge that
when they did their due diligence and had their limbs
(06:45):
and everything, there was protections in place, so they built
their family homes, they put their life savings in, they
put their retirement funds into building something which was secured.
And that's no longer the case. So it's really a
truly whole a Pegasus issue. We're hearing house sales falling
through of the uncertainty, and that's not just around the
(07:06):
golf course. That's through our Pegasus.
Speaker 2 (07:09):
Isn't that a similar situation though? Met to Ravens down
across the road right, that's another major development that's going
through and Ravens would rather and Undeubtedly those residents will
be utilizing the services of Pegas's township. So that's a
I mean, isn't that a wider growth problem within wy Market.
Speaker 3 (07:26):
Eating Well, No, because the Wyman District Council only last
year finalized their district plan, and in that district plan
they considered all the future needs for the next thirty
odd years and in terms of whether they'd be infrastructure needs,
commercial needs or residential needs, that's already baked in, and
(07:47):
that was baked in in other places and not Pegasus.
The cell developments already consented and due to get underway.
So the if you like, the pressure on our little
township and it's surrounding areas is huge, and that's why
the council never planned to put it where Braves would
(08:07):
have proposed. You're not running through Wolfbrooker proposing.
Speaker 4 (08:11):
We're talking to Matt James, Pegasus Residence Group president. So realistically,
what do you think the chances of you tuning this
around are? Matt?
Speaker 3 (08:18):
Oh, I understand you wouldn't spend turning out with you.
Speaker 2 (08:22):
We like your confidence and all the very best because
it's a passionate group down there, but appreciate you coming
on the program. That is Matt James, Pegasus Residence Group President,
So what do you say?
Speaker 1 (08:32):
For more from News Talks B listen live on air
or online, and keep our shows with you wherever you
go with our podcasts on iHeartRadio
You're listening to a podcast from News Talk zed B.
Follow this and our Wide Ranger podcasts now on iHeartRadio.
Speaker 2 (00:16):
Pigas's township hopes to buy back the golf course from
developer Wolfbrocker Pact. Public meeting was hold to listen to
the district's mayor, local MPs and others to discuss options
going forward. Joining us now is Pigass Residence Group President
Matt James. Matt, Very good afternoon to you.
Speaker 3 (00:33):
Good afternoon.
Speaker 4 (00:34):
Can you tell us the situation from your perspective as
the Residence Group president.
Speaker 3 (00:41):
Matt, in terms of the news of last night.
Speaker 4 (00:46):
Or the open Okay, okay, Well let's go back then.
What so when the original owner sold the golf course,
was the expectation that would remain a golf course, Well,
you can.
Speaker 3 (01:00):
Actually sell the golf golf course. He went into liquidation.
He went into liquidation because you didn't pay his bills.
The P and L courses was solid and that's why
we had as part of the tender process, we had
at least to operators, maybe more golf operators who were
prepared to invest because they saw the opportunity within it.
Speaker 4 (01:21):
So what you're saying is that the golf course was profitable.
There was other reasons why it went into liquidation, to
deal with other properties or other business problems.
Speaker 3 (01:30):
Yeah. Basically, Yeah, the earnings the previous only made. He
didn't pay his iod obligations and other people, so that
the actual and lying financials were fine.
Speaker 4 (01:43):
And what percentage of the town do you think moved
there because there was a golf course there?
Speaker 3 (01:50):
I think most people moved to Pegasus because of the
overall vibe of which the golf course was a part.
We have the golf course, we had the lake, We
had this kind of leisurely recreational feel to the township.
So it's not exclusively that, but it was a big
draw cottage. You draw updrive et peckass that's one of
(02:12):
the first things you see big green spaces is a
great community asset.
Speaker 2 (02:18):
So what does mortgage e saale? Because that's how got
ahold of it right. What I can't understand, Matt, is
at that point a mortgage e sale, it's usually floated.
Speaker 3 (02:26):
Yep.
Speaker 2 (02:26):
Sometimes developers get a heads up, but it is primarily
public at that stage. Why wasn't it floated that this
was a real possibility and heads were put together to
try and get a hit of Wolfbrook.
Speaker 3 (02:39):
Well, remember our understanding is Wolf came quite late to
the piece. There were absolutely community people working on proportnersers
and then put pictures in. Remember the MORTGI process is
very very quick. The time needed for the whole package
to be put together is very limited. But we absolutely
have had an existing golf company from the Pumpson North
(03:03):
and we had a local consortium bidding there. Now we
understand that they felt that they weren't given the chance
to up their bid. I can't I wasn't involved with
that process, but that's what I'm hearing, and that their
original to p very very close to that which Wolf
brought the course for.
Speaker 4 (03:20):
Do we have any idea because I'm hearing the number
six or seven million dollars, which doesn't seem a lot
for seventy seven acres.
Speaker 3 (03:28):
That's what I'm hearing too, I mean that was amount
of money we've seen a batting around. As I said,
the other bid is the Golpriders would bang on really close.
And so yeah, it's quite of disappointing that we didn't
give the opportunity to maintain at the golf course.
Speaker 4 (03:43):
So what are your options now?
Speaker 3 (03:46):
Well, there are really twofold. So one is to try
and open negotiations with wolf Brook with the Council's support.
The council woun't connected to a body which would help
bring people together to form a strong bid and to
put that over there. Of course wolf could be open
to entertaining that as an option and at the end
(04:09):
of the day they don't have to excel it, but
we would hope they mont consider that. Yeah. The other
adoption is to have our say in any plan change
process that goes forward the wolf Brookers if they want
to use a fast track process, which is a concern
to us because it limits some of the voices which
are heard in the pro processes. But as you you know,
(04:30):
we've had a local mpage, we had a local council,
they are all very much in our call. We've had
a locally, we've got a crementional support who to go
forward and help us that application process. But really their desptions.
Speaker 4 (04:43):
We have because it seems so if you I've got
no idea on the mass of it, but if you're
saying seven, if there's seventy seven hicct is and it's
going to be developed as properties, that seems like it
could be well over a thousand properties there, So the
value of the lands, you know, for Wolfbrook. Have they
come along and gone, well, we've got this incredible deal here,
We've we've got for seven million dollars speculating we've got
(05:06):
the ability to make so much more money. So would
you be negotiating with them on how much money they
could potentially make from the situation or negotiating on how
much they originally paid?
Speaker 3 (05:19):
Then the question is how much they can realize. Yeah,
there's a lot of restrictions on their use of that
land we have to challenge or have not challenge. You
have to consider whether to some extent, well took a
bit of a gamble. I don't know how much they're
aware of the restrictions on the land and the cultural
significance of the land, but I think that pass of land,
(05:42):
even than at its best, would be a lot less
valuable for them to do developments on that maybe they
originally foresaw, and so that business case would have to
be challenged in my personal opinion.
Speaker 4 (05:55):
Speaking of personal what would it mean to you personally
as a resident if this golf course disappeared.
Speaker 3 (06:04):
I'm not a golfer and I don't have a home
on the golf course here locally for twenty three years
and actually in Pegasus itself since twenty nineteen. The reality
is any change has a huge impact on our general infrastructure.
We have our roading, we have our schools. Both are
(06:24):
challenges at the moment. School practically full, our health centers
practically full and taking a waiting list. The roading now
people are committing into christ each in the morning is
a big weight. It to be a huge impact to us. Plus,
people built around the golf course with the knowledge that
when they did their due diligence and had their limbs
(06:45):
and everything, there was protections in place, so they built
their family homes, they put their life savings in, they
put their retirement funds into building something which was secured.
And that's no longer the case. So it's really a
truly whole a Pegasus issue. We're hearing house sales falling
through of the uncertainty, and that's not just around the
(07:06):
golf course. That's through our Pegasus.
Speaker 2 (07:09):
Isn't that a similar situation though? Met to Ravens down
across the road right, that's another major development that's going
through and Ravens would rather and Undeubtedly those residents will
be utilizing the services of Pegas's township. So that's a
I mean, isn't that a wider growth problem within wy Market.
Speaker 3 (07:26):
Eating Well, No, because the Wyman District Council only last
year finalized their district plan, and in that district plan
they considered all the future needs for the next thirty
odd years and in terms of whether they'd be infrastructure needs,
commercial needs or residential needs, that's already baked in, and
(07:47):
that was baked in in other places and not Pegasus.
The cell developments already consented and due to get underway.
So the if you like, the pressure on our little
township and it's surrounding areas is huge, and that's why
the council never planned to put it where Braves would
(08:07):
have proposed. You're not running through Wolfbrooker proposing.
Speaker 4 (08:11):
We're talking to Matt James, Pegasus Residence Group president. So realistically,
what do you think the chances of you tuning this
around are? Matt?
Speaker 3 (08:18):
Oh, I understand you wouldn't spend turning out with you.
Speaker 2 (08:22):
We like your confidence and all the very best because
it's a passionate group down there, but appreciate you coming
on the program. That is Matt James, Pegasus Residence Group President,
So what do you say?
Speaker 1 (08:32):
For more from News Talks B listen live on air
or online, and keep our shows with you wherever you
go with our podcasts on iHeartRadio
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