If they are CASC registerred which I think they NZ were then they can't receive the proceeds to distrubute amongst the members. CASC rules changed last year though and many clubs de-registered. You effectively had to have a full membership equal to £520 per year and it is hard to operate a good standard course with that low a membership fee.
The land could be worth as much as £200,000,000 in Surrey, which is one of the most expensive places in the country/world.
Land in many towns is worth £1,000,000 per acre if you can build. Agricultural land or golf course land is circa £10,000 in the south of England, but throughout the UK could range from £1,000 upwards.
If an average golf course got planning permission to build on the lot you could expect 2000 homes, so £100 million is very possible. Most clubs could up and build a much better one for £5 million and at £10 million you could rootzone fairways. Done properly the average member could expect to receive £200,000 each.
Getting planning for most golf courses would be seen has hitting the jackpot of all jackpots. You would still get a few vote against it though. We need new towns close to motorways though not clogging up existing infrastructure.