Novus Capital Limited is an investment and financial services company specialising in Investment Banking, Corporate Advisory and Share Trading services for Australian corporate and private clients, and overseas corporate clients.

Destination Leisure Holdings Pty Ltd

Destination Leisure Holdings Pty Ltd


Destination Leisure Holdings Pty Ltd has recently acquired a property at Torquay Victoria which was formerly a Peppers Golf Resort. The Torquay property was closed upon acquisition and is in the process of a major refurbishment program and planning to re-open in November/2021.

DLH have secured a banking facility for the acquisition of the property.

DLH have raised $3,816,000 in convertible notes to assist with the acquisition of the property and the refurbishment of the property.

DLH wish to raise $3.0million of fresh convertible notes to repay some outstanding convertible notes. Following the raising of the $3.0million of fresh convertible notes there will be $5.0million in total of convertible notes on issue.

The Torquay property is to be known as The Sands Torquay to be managed by Belgravia Leisure.



- Total Offer $3.0 million of Convertible Notes

- Coupon of 8% per annum, payable quarterly

- Convertible discount of 20% to valuation. 

- Term – 18 months from completion of capital raising.



  • The acquisition and refurbishment of The Sands Golf Resort, Torquay, Victoria.
  • The property contains an A grade 18 hole golf course,112 room hotel with extensive conferencing facilities, restaurant and bar, health club with gymnasium and indoor swimming pool.
  • The property was formally known as Peppers, The Sands, Torquay.
  • The property was acquired by Destination Leisure Holdings Pty Ltd who have undertaken a $4.754million refurbishment program and is projected to re-open in late November 2021.
  • Belgravia Health & Leisure Group Pty Ltd have been appointed under a 10-year Management Agreement.
  • A Valuation “on completion” of refurbishment has been completed, Valuing the property at $35.00million (for mortgage security purposes).
  • The Valuation is based on a three (3) year rolling average EBITDA of $3.30million.
  • A first mortgage debt facility of $25.00million is in place with CBA.
  • There is currently $2.00million of Convertible Notes on issue and following this raising, there will be a total of $5.00million of Convertible Notes on issue.

More information:

Contact Ian Kilday, Director – Property Advisory – Novus Capital Limited ian.kilday@novuscapital.com.au or +61 411 875 363

Click Here to Download the Investment Fact Sheet.