Dear Members
Building works: Thank you for your continued patience during this challenging period in relation to the clubhouse redevelopment. We are very pleased to announce that we have finalised negotiations with Mammoth Constructions for completion of the building works. The bank have agreed to a new loan facility, which will take the clubhouse redevelopment through to completion. The estimated time to complete is 5 – 6 months and we hope to start within the next two weeks, which will take the completion date to April 2024. The building contract will be signed off early next week. You may have noticed that early works have already began with Mammoth Constructions preparing the re-mobilisation of the site.
New Restaurant Group on Upper Level: We are also very happy to announce that the Boathouse Group have agreed to a “Heads of Agreement” with Mona Vale Golf Club to open a restaurant on the upper floor. The agreement is very similar to the previous arrangement with the previous proposed tenant (the Dedes Group) , with a long term lease and market rent, which matches our previous modelling. As you would be aware, the Boathouse Group are a very well-known Northern Beaches brand with venues such as the Boathouse at the Manly pavilion, Shelly Beach, Patonga Beach, Balmoral Beach, Manly Cove kiosk, Moby Dicks at Whale Beach and Barrenjoey House at Palm Beach. Other venues, which have recently opened but not on the NB are the Cruising Yacht Club at Rose Bay and the Boathouse at North Wollongong. We are very excited to partner with the Boathouse Group and look forward to a long and healthy relationship.
A full financial presentation will be sent out to all members prior to the AGM with the detail of the clubhouse renovation and new updated costings. We will also take that opportunity to present detailed designs and concept models for the upper floor renovation and restaurant.
Once again, thank you for your patience and we look forward to completing the clubhouse project in April 2024.
Regards
Lance Barnes
Club President
