Two top New Zealand golf courses are being teed up for sale, with the potential buyers wanting to turn the fairways into hallways.
Manukau Golf Club, near the Southern Motorway at Manurewa, is shifting 8km to a new site near Ardmore Airport, after more than 80 per cent of its members voted to leave their 47ha site.
Fletcher Residential Limited - wholly owned by Fletcher Building Limited with offshore interests owning more than half (51.9 per cent) of the company - wants to subdivide the land and build hundreds of houses on it.
The Overseas Investment Office (OIO) has now given the go-ahead for the sale, believed to be around $40 million, saying it would be a "benefit to New Zealand".
In another move, the sale of Boulcott's Farm Heritage Golf Club in Lower Hutt has had consent granted by the OIO.