The operation of Narrabeen RSL has been put to market, following it entering adminstration after succumbing to the impacts of COVID-19.
Occupying a prime location behind Warriewood Square Shopping Centre, near Narrabeen lakes, the multi-level RSL, known locally as the “Razza” holds standing as one of the Northern Beaches most prominent live music venues.
After the club’s statement and voluntary administration in February, Narrabeen RSL sub-Branch, freeholder on the building, is looking for a new operator “with the right credentials”, with which it will work to continue to facilitate a meeting point for veterans and their families to access services, support and camaraderie, and to commemorate.
The move is expected to generate a “new lease on life” for the club, which enjoys limited surrounding competition across clubs and pubs.
Dee Why RSL, around seven kilometres south, has seen enormous benefit from a massive two-year renovation bringing a swish new cocktail bar, in-house gin creation, the largest sports bar on the Northern Beaches, and a reimagined modern restaurant.
The Razza holds a large residential trading catchment and existing membership base of circa 3,500, and sales literature points to the post-pandemic pivoting being seen in hospitality, to increase market appeal.
“For many RSL clubs, this means repositioning to target a younger demographic, focusing on entertainment to drive a quality F&B offering, and extending operating hours to be morning, noon and night, with additions such as kids play areas and barefoot bowls,” suggests CBRE’s Leif Olson, engaged to market the opportunity in conjunction with HTL Property’s Sam Handy.
Qualified prospective tenants will also be in a position to negotiate lease tenure, annual rental and terms, and strategic capex is likely to go a long way at the tired venue.
“Narrabeen RSL provides a virtual blank canvas for an incoming operator to activate a more relevant and compelling food and beverage proposition and a completely differentiated offering across multiple levels, including extensive outdoor areas and use of the bowling greens,” furthers Handy.
The leasehold operation of Narrabeen RSL is being sold via Expressions of Interest, closing Thursday, 7 July.