MORISSET COUNTRY CLUB CLOSURE

Having received an unanticipated “Notice to Vacate” from our landlord (Drysdale Metal Pty Ltd) it is with deep regret that Morisset Country Club closed its doors after our AGM on Sunday night the 19thMay.

The decision was made primarily due to the Notice being issued at the critical time of annual membership renewals which each year totals approximately $330k in revenue. Being unable to fulfill 12 months entitlements these memberships represent, it was considered inappropriate to expect members to make any payments, even on a pro-rata basis. These renewals are an important consideration in the Clubs annual trading cash flows and to continue to trade without them only lessened the quality of services able to be offered to the members, and heightened the risk of trading solvency.

There is also the consideration of the time required to vacate after over 50 years of occupancy on the site.

Considering the current board has been very successful over the past 12 months in providing trading outcomes that would indicate the future was looking very positive, the outcome is very sad for the members, staff and the community as a whole.

At this stage we remain unaware of the proposed plans by the landlord for the future of this irreplaceable community and sporting facility.

The Board of Directors and Staff of Morisset Country Club would like to thank our members and the community for the wonderful support and patronage over the many years.

By Board of Directors Morisset Country Club.