The news our local community dreaded: The Kirribilli Club is for sale.

By ANNA USHER

Less than two months after its sudden closure, Mosman Collective has learned the Kirribilli Club is now offered for sale with vacant possession.

While not surprising, the news is still upsetting for lower north shore locals who have patronised the club for generations.

Founded in 1946 for serving Australian Defence Force personnel and their families, the venue was rebuilt in 2007 despite more than $5 million in debts.

However, the 1,834 sqm site on Harbourview Cres in Lavender Bay was continually plagued with financial problems.

In 2014, it sold to NSW Harness Racing for $15.5 million before Stadia Capital purchased the club in 2022 for $22.855 million.

With 18,000 members, the landmark building was placed into voluntary administration on June 19.

JLL has been exclusively appointed to market the asset via an international expression of interest campaign, with Willem Watson, James Barber, Andrew Rojek, Kate MacDonald and Simon Quinn managing the campaign.

With its sweeping Sydney Harbour views, the property lends itself to multiple potential uses, including hospitality, aged care, commercial, medical, and residential (STCA).

It is being offered for sale with vacant possession.

“The former Kirribilli Club is unique. There are no comparable or similar opportunities currently available in terms of its size, location and versatility,” Mr Watson said.

“It is the first time this iconic Sydney Harbourside site has been offered to the market with vacant possession, providing access to a broad range of potential investors and uses.”

Spread over three levels (ground, mezzanine, and first), with two levels of basement car parking for 64 cars and a commercial loading dock, the club currently features two kitchens and bars, a cocktail lounge, conference facilities, and function rooms.

It has a gross floor area of 4,329.4 sqm.

“Milsons Point is renowned for its high-end luxury residential apartments that achieve premium sale prices due to the proximity to the Sydney CBD, transport options, access to the harbour foreshore and stunning views,” Mr Watson said.

“This project could involve options including converting the levels of the asset into premium residential units, taking advantage of the stunning harbour views or equally the establishment of a medical centre or aged care facility as examples.”

JLL’s Senior Vice President Kate MacDonald told Mosman Collective that the opportunity “provides an astute operator with significant ability to trade at scale in a location that is undeniably one of the best in Sydney.”

International Expressions of Interest for Lot 1, 11-23 Harbourview Crescent, Milsons Point, close at 3 pm (AEST) on August 29 2024.