New owners take over The Sands

THE Sands Resort in Torquay reportedly has a new owner.

ICloud Abacus Holdings and Odyns Holdings bought the golf course and hotel complex in 2017 and ran it through their operating company, Walden Cloud Group.

The resort entered voluntary administration in July this year, with the Melbourne office of firm PKF Australia appointed to assess the business’ financial position.

Private lender Smart Wealth appointed receivers Helm Advisory one month later to sell the property, with managing director Stephen Hathway saying at the time the resort would be “a great opportunity for the right buyer”.

Colliers International oversaw the expressions of interest campaign, and PKF Melbourne’s Paul Allen said in November that more than 20 parties had made offers for The Sands.

The 18-hole golf-course designed by Stuart Appleby and 112-room hotel, health resort, pool and restaurant were all to be included in the sale.

The new owners are advertising for “energetic, passionate, and enthusiastic guest-focussed hospitality and golf professionals that are career-oriented with an innate desire to deliver world-class service for the relaunch of The Sands Torquay Golf Resort”.

“This exclusive resort has recently been acquired by a new independent owner who is planning a multi-million-dollar refurbishment to bring the golf resort to a new level of luxury.”

It is not known how much The Sands’ new owners paid for the business, but a six-month marketing campaign in 2016 to sell the resort valued the entire property at about $25 million.