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Circulars 30 Nov 2021

Circular 47/21 Sale of Concord RSL Club premises – further information

The RSL NSW Board made the strategic decision to divest the Concord RSL Club premises and land at Nullawarra Avenue, Concord West. The premises have been vacant since the 2019 when the Concord RSL Club ceased trading. RSL NSW was not legally connected with the Concord RSL Club and the operation of that Club was the responsibility of its Board and members.

RSL NSW has been paying annual holding costs on the property with no returns due to its vacancy. The property was valued on 30 June 2020 at $3.3m and RSL NSW subsequently undertook an off-market sale campaign, with a closed tender process, and adhered to appropriate probity and conflicts protocols.

As a result of the campaign, the Croatian Club Ltd has purchased the site from RSL NSW for $8.55m. The Croatian Club Ltd is committed to reinstating the commissioned ANZAC memorial and honouring traditions such as the Dawn Service, and supporting the National Centre for Veterans’ Health at Concord Hospital.

As a charity RSL NSW has a duty of care to ensure that the optimal value is achieved from the sale of any asset so that it can continue to support and provide services to veterans and their families.

As per the 2021-2026 Strategic Plan, the proceeds of the sale will be invested by RSL NSW under the new aggregated investment model and the investment returns will be utilised for the Veteran Support Fund.

If you have any questions regarding the sale of the Concord RSL Club premises or the Veteran Support Fund, please contact RSL NSW CEO Jon Black via support@rslnsw.org.au.