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Club Developments

CDC Masterplan Goals

1. Introduction

    The current Club Development Committee views our primary objective to be negotiating
    and obtaining new lease conditions from the Government which will provide us with the
    ability to legally expand Club facilities for the foreseeable future.

    The basic approvals mechanism requires us to obtain “Policy Approval” from the Home
    Affairs Bureau (HAB) followed by masterplan approvals from the Town Planning Board
    (TPB) and the Buildings Department (BD). Once the above-captioned approvals have
    been obtained, the Club is in a position to agree a Lease Modification with the District
    Lands Office (DLO).

    Upon completion of the Lease Modification, the Club will be in a position to prepare
    technical designs for submittal to the BD for construction.

2. Construction Programme & Phasing

    There are two realities which will drive the Construction Programme: Firstly, the basic
    economics of the Club’s growth and operational requirements will require that we build
    with a view to securing revenue first and foremost, whilst keeping operational disruptions
    to a reasonable level.

    Secondly, Government regulations vis-a-vis the requirements of various technical
    departments will require certain aspects of the project be completed as a prerequisite.
    For example, a compliant Emergency Vehicle Access (EVA) will be necessary to obtain
    BD approval to build a new clubhouse.

    In view of this, the general phasing is expected to be as follows:
    Phase 1:   Commercially viable projects such as new boat racks, docks, etc.
                       Re-instatement of key facilities such as the garden bar, playground, etc.
                       Provisioning of temporary facilities such as temporary offices, etc.
    Phase 2:   Construction of required infrastructure such as EVA ramp, CLP, etc.
                       New operational facilities such as parking structure, STC facilities etc.
                       New amenities such as a pool & gym, etc.
    Phase 3:   Construction of new amenities such as a new Clubhouse, etc.
                       Completion of new operational & marine facilities.

3. Construction Costs

    The CDC has been asked about Construction Costs on a number of occasions and we
    have felt this exercise to premature for a couple of reasons:

    Firstly, the Lease Modification is in essence an exercise in strategically broadening the
    Club’s future possibilities by securing expanded development rights for our site. It simply
    removes the development restrictions which have proved to be extremely costly to us.

    Secondly, nothing has yet been approved by the HAB and subsequently, the exact nature
    of what is approved may change during our negotiations. That being said, we are working
    to comply as closely as possible to the intent of the Outline Zoning Plan and there is
    every reason to expect support from the Government.

    In conclusion, the estimation of Construction Costs is a premature exercise until we have
    at least obtained HAB’s “approval in principle”, so that we know what we’re building. And
    when we’ve an idea of the timeframe in which we expect to build out our 3 phases.

    Naturally, whatever we build will be determined by the future financial situation the Club.

4. Funding

    The basic reality of funding anything at the Club is that we have a closed economic
    system: Our Members finance everything. Consequently the choices are to raise monthly
    subscriptions or to increase the number of Members. Or a combination of the two.

    The CDC believes that the best way forward for the Club is the latter strategy: Increase
    the number of Members by providing the ability to cater to that increased Membership via
    the provision of more, and better, facilities. Our current situation finds us struggling to
    provide adequate services for our current membership of 1100, in some key areas. At the
    same time we’re struggling with keeping other key amenities “in the black” due to to
    chronic underuse.

    Our Articles of Association currently limit our Club to 1500 members - which would stretch
    our current facilities beyond capacity. The new Masterplan provides a significant increase
    in amenities and operational infrastructure which would allow us to comfortably increase
    membership beyond 1,500. And obviously, projects like the boat racks can be expedited
    and will generate significant revenue almost immediately.

    The CDC and GC plan to prepare and analyse a range of financial models to present the
    members with realistic options about how we can solve current financial problems and
    see the Club grow sustainably going forward.






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