May 2023 Update

Thank you for your continued support and interest in the Heart of Forestville project.

Thank you to the members that took the time to attend the briefing on the 23 February 2023 to hear first-hand an update on the progress made to date on the plans for the club.

For the benefit of those who could not attend, following is a snapshot from that meeting.

Pleasingly, 93 members joined Club President, Tony Mooney, other Board members, Club CEO, Ian Thomson, and his management team at the meeting.

Tony Mooney opened the briefing by screening the architect’s initial, ‘fly-over’ video which showed their conceptual vision for the new club precinct. Tony noted that the video should be taken as ‘indicative only.’

A PowerPoint presentation was then provided which covered a range of topics including:

• Board of Directors' obligations to ensure the club’s financial viability;

• the current ‘threat’ to gaming revenues and the need to investigate alternate revenue streams;

• maintenance issues to do with the current club premises and changes in consumer behaviour and expectations in Hospitality;

• interactions with relevant, various consultants and the Northern Beaches Council (development approval authority). It was noted that Council was broadly supportive of the plan to develop new club premises on the existing bowling greens, the demolition of the existing club premises and the subsequent construction of approximately 40 independent living units (ILU’s);

• the club’s actions thus far in seeking to develop the current club site; and

• particular reference was made to the fact that there is a great deal of ‘unknowns’ to do with the proposed development, but that the club was committed to keeping members informed of progress towards the submission of a Development Application.

The meeting was then opened to questions from members, which were responded to by the Chair, other Board members or the CEO.

In the time since this meeting, the club has reviewed the financial modelling associated with the first vision for a new two-storey club and ILU’s and found that the build cost was prohibitive. Further financial modelling will now be done, based on a smaller club design. This new modelling will allow the club to make an informed decision regarding the scale and ‘staging’ of the development and move us closer to ultimately submitting a Development Application to Council.

Regards,

Tony Moody, President and Ian Thomson, CEO
Forestville RSL