‘Proud’ Sydney club suffers sad movie fate
The sad plight of a flailing Sydney club has been compared to a that of a famous Aussie movie.
It’s Crackerjack time at The Chatswood Club, where a shrinking group of members is hoping the 50 car spaces it owns in the heart of town will save the club.
Just like in the 2002 Aussie comedy, starring Mick Molloy and Bill Hunter, the club is on a large central site with lots of free parking but a falling membership.
And with member numbers down to about 80 people, the board has decided to sell its valuable Chatswood CBD position and use the proceeds for somewhere smaller and cheaper.
Club president Philip Sale says the club has a proud history dating back to 1954 and at its height in the 1990s the first-floor function room would be full of businessmen enjoying long lunches.
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The plight of The Chatswood Club is being compared to the storyline of the famous Aussie movie Crackerjack, which stars Mick Molloy, Bill Hunter and Judith Lucy.
The club is selling 1914sq m of floor space, including 50 spaces, in an eight-storey building.
“We used to be called the Chatswood Businessmen’s Club before we changed the name, for obvious reasons,” he says.
“But we lost 80 per cent of our function trade and office functions, trade shows and workshops ceased, and then Covid did the rest.”
What’s on offer is the ground floor and first floor of the Help St building plus 50 secure car spaces in the basement.
The club originally had a single-level cottage on the land but sold to developers in the late 1980s, retaining two floors.
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The club is just 400m from the Metro station.
Tom Appleby, of Colliers says the club is selling 1914sq m of floor space, including the car spaces, in an eight-storey building within 400m of the Metro, train and bus interchange and surrounded by shops, Westfield Chatswood and the Mandarin Centre.
“The Chatswood Club will undoubtedly be hotly contested by a vast variety of owner-occupiers, astute investors and savvy land bankers,” he says.
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Market sources say $15m may be achieved.
There is also potential for future development, subject to council approval, as the 1858sq m land site is so close to transport hubs.
The club is hoping a pub, restaurant, medical or childcare business might show interest.
The sale is via expressions of interest closing on Thursday, September 26.
The agents were tight-lipped when asked about the price guide. However, market sources have indicated $15m could be anticipated.
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