The Jervis Bay Community and Sports Club (JBCSC) has announced that the St Georges Basin Country Club (SGBCC) has been advised that a major local Shoalhaven company, BY Group Pty Ltd, will be working with JBCSC to help acquire the Vincentia
Golf Club precinct, and to establish and grow the new community club at Vincentia.
The JBCSC Chair, Craig Hatton, said that the St Georges Basin Country Club was informed last week that BY Group is positioned to guarantee the required $2 million for the purchase of the Vincentia Golf Club. Both SGBCC and JBCSC have been working constructively and collaboratively to complete the due diligence that will underpin the preparation for Member votes on deamalgamation and then the application to the NSW Independent Liquor & Gaming Authority (ILGA) for the transfer of licences.
The announcement now of the financing and partnership arrangements with BY Group is an important advance in the sequence of commercial, regulatory and governance steps necessary to achieve de-amalgamation.
This announcement is an important milestone for JBCSC, which had over recent months been reviewing a number of funding options. “The link with BY Group was the one that we felt was the best fit with JBCSC’s community focus”. “Collaboration with BY Group will enable JBCSC not only to complete the acquisition and re-open operations in Vincentia, but we are also confident that by working together we will be able to achieve so much more for the community, and to deliver those benefits earlier.”
It is also a significant commitment by BY Group but one which the company says is very much aligned with the company’s values, and a financial commitment well within the capacity of a company with a broad commercial portfolio.
BY Group is a Shoalhaven-based building and construction company committed to the betterment of disadvantaged communities across Australia, New Zealand, and the Pacific.
It has proven capacity to manage large, complex as well as smaller, communityoriented projects while delivering significant social and economic outcomes both nationally and internationally. It is also a trusted delivery partner executing a large
portfolio of contracts for both Federal and State Governments.
BY Group will be a strategic partner with JBCSC to help the Vincentia community build a vibrant and diverse new community club serving Vincentia and the broader Jervis Bay region. A special focus will be the contribution that BY Group can make in supporting JBCSC’s vision by creating education pathways, apprenticeships, training programs, and job opportunities for local disadvantaged youth and other members of the community, as we move to re-open and refurbish the Vincentia clubhouse.
Mr Hatton said that the de-amalgamation process is still at an early stage and there is a lot of work ahead as the Boards of SGBCC and JBCSC navigate through the necessary sequence of steps set out in the NSW Registered Clubs Act (1976).
Although it is a long process, Mr Hatton said that a careful and methodical approach is important so that all regulatory and governance requirements are met in full.
Craig Hatton
Chair