Update on the Expressions of Interest Campaign for Vacant Land adjacent to 8th Fairway
The Expressions of Interest Campaign for the unused land on the north-east boundary adjacent to the 8th Fairway closed on Thursday, 16 March. This was a 4-week campaign conducted by Cushman and Wakefield on behalf of the Club. Cushman & Wakefield ran a comprehensive marketing campaign to reach as many prospective buyers as possible, and through their own database of industrial developers, internet listings and signage.
I am pleased to inform the membership that we have received 11 expressions of interest.
To achieve a successful outcome for the Club, the selection of a prospective buyer must balance the price offered with their expertise to overcome significant hurdles relating to the development process.
The Committee will now work with Cushman & Wakefield to identify the best company to “partner the Club” in obtaining the necessary approvals for industrial development. Ultimately the Committee would need to be confident that this is the best outcome for the Club before the matter would be put to a vote at an Extraordinary General Meeting.
This is on a background of the Committee’s belief that the Club requires a capital injection of significant funds to complete several urgent major projects.
I will continue to keep you up to date on this process. This is the start of a long journey with any prospective buyer, but I believe in the importance of all Members being fully informed throughout and will communicate regularly over the coming months.
Regards
Mark Deuble, President
