'Devastating': Top golf course could be carved up for housing

The Pegasus golf course near Christchurch is expected to be carved up for housing.

The prestigious Pegasus golf club was put into voluntary liquidation in March and placed on the market for sale. A liquidator’s report showed the club owed around $9 million to creditors.

The property includes a driving range, practice greens, pro shop, tennis courts, gym, plus a bar and cafe.

Developer Wolfbrook Property has purchased the 18-hole course. The company says the course will temporarily remain open.

Wolfbrook Property Group chief executive Guy Randall told the New Zealand Herald it intended to pursue rezoning of the land to build homes.

Wolfbrook is a development company with its head office in Christchurch.

Randall told the Herald it would work closely with golf club members, neighbouring landowners, and other important stakeholders to “ensure a respectful transition” for the community and existing recreational users.

"We understand this property holds significant emotional and community value for many people in the Pegasus area,” Randall said.

"Our goal is to approach this transition thoughtfully and respectfully while helping address ongoing demand for housing across Waimakariri and the greater Christchurch region."

Wolfbrook also plans to take measures to support golf club members and the wider community during the transition, including allowing the course to remain open free of charge for a short period following settlement day, allowing the use of the clubhouse for a farewell event, and retaining the tennis courts for community use.

Wolfbrook will also keep walking tracks accessible to the public “for as long as it is safe to do so”.

“While the golf course itself is no longer financially viable, and will not be reopening in the long term, we are committed to maintaining aspects of the site where feasible - including its impressive water features - so they can continue to be enjoyed by the Pegasus community,” Randall told the Herald.

He said community engagement would be a key part of the planning process as Wolfbrook sought to have the property rezoned.

Pegasus Golf Ltd announced the liquidation on March 6 in a social media post, and reassured its members the club would remain open during the process.

A group known as the Pegasus Guardians has been keeping the course playable since.

A Pegasus Guardians member told the Herald many people would be “gutted” about the sale.

“It’s such a shame it’s come to this,” they said.

“It’s a mint golf course – people must have taken it for granted.”

It is understood multiple unsuccessful offers were made to buy the course – including proposals that had vowed to keep the course open.

Auckland businessman Xiangming (Sam) Huo and his company Sports and Education Corporation Ltd purchased the course in 2018, but by 2024 it was in financial strife and a short time later it was put on the market.

Canterbury Golf general manager Blair Minton said in March the liquidation was "devastating news" for the club.

It is one of the top courses in Canterbury, hosting the Club Car Classic event on the Charles Tour in October.

The 18-hole, 80-hectare property has also hosted multiple major golfing events, including Ladies European Tour rounds in 2010, 2011 and 2012, the NZPGA tournament in 2019, and a leg of the Sir Bob Charles Tour in 2020.

“They're one of the traditional championship standard courses. It's devastating news for everyone involved," Minton said.

-Allied Media

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