Officials at Killiney Golf Club would not make any comment last night on reports that an offer of around €300 million has been made for the 50-acre course.
The proposed purchase of the golf course in south County Dublin comes weeks after another consortium told officials of Foxrock Golf Club that they were preparing to make an offer reputed to be in the region of €400 million for the 56-acre course.
The nine-hole Killiney golf course has around 600 members and has been closed to new members for a long time. The move to buy Killiney is hardly surprising given that houses with extensive grounds around it are increasingly coming on the market and attracting top prices.
Last October the Dublin fashion retailer Sean Barron sold his home on 2.82 acres near the club to a Cork builder for €22 million. This week another four adjoining houseowners put their properties along Church Road, Killiney on the market with an asking price of €28 million for the combined site of 3.6 acres.
One source in Killiney Golf Club suggested last night that the consortium about to make a formal offer for the course may be linked to those bidding for Foxrock.
An estate agent who specialised in new homes said yesterday that, even with restricted density, the Killiney course could accommodate at least 200 houses.
Standard family homes could be expected to go for at least €2 million in this location. Alternatively, a developer could probably get permission for a considerably larger density of houses and apartments.
The group reputedly chasing the Killiney course is offering to provide a replacement course and clubhouse in the Enniskerry area, off the N11.
Several years ago, another consortium, which included the developer and solicitor Noel Smyth, also made moves to acquire the Killiney course.
The group had apparently offered to provide an alternative course at Cherrywood, but a sale was not agreed.
Cosgrave Group is awaiting planning permission for a large mixed-use development on the 78-acre former Dún Laoghaire golf course.
The developers paid €20 million for the well-located grounds and have also built a 300-acre golf course in Enniskerry.
