The Tribune

By NATARIO McKENZIE

Tribune Busienss Reporter

nmckenzie@tribuneemdia.net

The Albany developers yesterday said they had promised the Government to re-open South Ocean’s golf course “within three months” if their joint venture with Och-Ziff was successful in acquiring the neighbouring resort property.

“If we acquire the South Ocean property, we have committed to the Government that we would open the golf course within three months and make it exclusively available to the Golf Federation and whomever they chose to make it available to,” said Dr Tyrone McKenzie, Albany’s senior vice-president.

The Bahamas Golf Federation (BGF) had previously attempted to secure a two-year deal to lease the South Ocean resort’s golf course, but talks with the current owner, the Canadian Commercial Workers Industry Pension Plan (CWWIPP), proved unsuccessful.

Speaking at a meeting of the Rotary Club of West Nassau, Dr McKenzie said Albany had offered to assist the Government in developing a golf course that would be accessible to the public in the past.

He added that Albany ultimately had to “move away” from the idea as the proposed location, the old dumpsite, would prove to be a very difficult undertaking. Albany features its own Ernie Els-designed 18-hole championship golf course ,which opened in 2010.

Tribune Business reported previously that Albany’s partner in its joint venture offer to acquire the adjacent South Ocean property is major New York-based asset manager Och-Ziff, which has over $40 billion in worldwide assets.

Dr McKenzie said yesterday that to his knowledge, no decision has been made yet with regard to the sale of the South Ocean property.

“One of the things we did say to the Government, and the idea behind us getting in there and doing something, is it really is an eye sore, the properties surrounding that South Ocean development,” said Dr McKenzie. The 383-acre property has been closed for over a decade.

“You come from Albany, a billion dollar project with beautiful scenery, and then you literally walk into a dump. We need to control and be a part of the environment beyond our property boundaries.

“We feel that addressing the aesthetics immediately is certainly a plus for us , the country and then, by extension, this cry about access to the golf course,” said Dr Mckenzie.

“The golf course is sitting there, but what most people won’t tell you is that it costs about $1 million a day to maintain these golf courses. That is why it isn’t that we don’t want people, but we have to charge a certain fee to maintain our course to a standard, most certainly if you want to attract PGA players and professionals.

“We currently have to shut down our course three months out of the year to do major renovations. People will complain about the price but golf is a rich man’s game, it’s a very disciplined sport, but it’s not cheap.”