neighbouring or nearby?

[Kräuter_Fee]

Three years later followed the opening of the island’s first golf course, the neighbouring/nearby Golf Son Vida.

Which one is correct? If both are correct, which one is more formal? Thanks in advance

 

[Toadie]

They are both correct. Neighbouring is more formal.

 

[Thomas Tompion]

Three years later followed the opening of the island’s first golf course, the neighbouring/nearby Golf Son Vida.

Which one is correct? If both are correct, which one is more formal? Thanks in advance

I'd put neighbouring, because it feels more unequivocally adjectival to me.