Client Overview/Background:
The Board of the Roseville Returned Servicemen’s Memorial Club (RRSMC) selected and appointed PCG over alternate advisory firms to assist them navigate the journey and the associated challenges involved in leveraging the club owned land via a development management agreement (DMA) for the redevelopment of the club owned land into a new mixed-use development comprising residential apartments, basement parking and new ground floor club facility.
Image above: Artist impression for the new Roseville Returned Serviceman's Memorial Club
The Brief:
The commercial and operational imperatives of the RRSMC include:
- The need to realise a commercial development equation which will sustain the club through the retirement of debt, a new and unencumbered club premises and provision of essential working capital
- The imperative to sustain the Club and fulfil the obligations of its charter as a Memorial Club
- The need to ‘re-calibrate’ the club facilities and service offering with current market and community demand
- The imperative to retain and build upon the linkages with the adjacent Memorial Park
Image above: Roseville Returned Serviceman's Memorial Club exterior prior to redevelopment
The Strategy/Solution:
PCG worked with the Board members of the RRSMC to divine a strategy which would yield the required development equation which would deliver a commercial outcome to sustain the club and deliver new facilities which would enable the club to fulfil its obligations through a ‘repositioning’ of the club and its offering to the market place. PCG issued an RFP to select members of the development community resulting in a shortlist of proponents with whom final negotiations were conducted resulting in the selection of a preferred proponent.
Image above: Artist impression for the new Roseville Returned Serviceman's Memorial Club
