PIN HI Winter 2013
PRESIDENT’S NOTES The Eastern Land Update As you know the land east of the bridge is the next large development project to be undertaken when sufficient funds become available in a few years time. The clubhouse partial refurbishment and extension project was paid from our cash reserves which are now depleted until subscriptions for the new Club financial year begin to flow. Recently, through the auspices of our State Member, The Hon Tim Nicholls MP, State Treasurer and Minister for Trade, Ralph Heading and I met with Government representatives to discuss our long term plans for the Eastern Land. We provided information on all the options currently under consideration and we also explained it would take us several years to replenish our cash reserves before we could tackle this project without recourse to borrowed funds. One aspect of these discussions was our request to utilise a part of the eastern land to generate some income to augment the funds required to develop golf holes. You will recall that when the LAJV completed its sublease of the land, part of the completion negotiations were works to be undertaken by the LAJV for our benefit. These works included a dam structure, the eastern boundary drain and a 1.5 ha hardstand area adjacent the northern boundary of the site. It is this hardstand area which was the main focus of the discussions with Government. With their assistance arrangements to sublease this area for a period of up to 5 years are well under way. The process includes an up to date land valuation to be approved by Government, then a sublease followed by a Development Application to be lodged with Brisbane City Council for a Change of Use. Also, a small amount of work on the site will be required including a sewer and water connection of which all are nearby. This process will allow us to rent the hard stand area of around 15,000 m2 at a rate of about $10 - $20 per m2 per annum and to pay an increased annual government rental of approximately 6%. Let’s keep in mind the terms of our Perpetual Lease requires us to use this land for golfing purposes. Further, as a leaseholder we do not have any right to apply for any rezoning. With an income generating opportunity over the next few years there is no rush to find the optimal solution for the Eastern Land and we have the support of Government to pursue this course of action. Some of the usage options may change or become clearer over the next few years when we are able to assess some of the impact from our neighbours at Northshore or even the new golfing complex under construction at the Airport. Strategic Plan Next week the new strategic plan for the next five years will be released on the web site while hard copies are obtainable from the clubhouse. Finally, don’t forget to drop in for a meal or a drink at the Club.
Des Knight INSIDE THIS ISSUE: ● Captain’s Communiqué…P2 ● JDP…P3 ● Associates’ News…P4 ● Course Manager’s Report…P6 ● Notes from Acting GM…P8
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● Forthcoming Events…P9 ● Rules are Rules…P10