Richmond Club and Axiom Announce Purchase of Site for Hotel Development

Pictured: Richmond Club Chairman, Geoff Luscombe, and Group CEO, Kimberley Talbot, with the original concept of the hotel site developed in 1995.

Richmond Club Ltd is pleased to announce that it has entered into a contract with Axiom Properties Ltd to purchase a portion of club land on the corner of Francis St and East Market St in Richmond for the purpose of developing it into hotel accommodation.

Under the terms of the Contract of Purchase announced today, Axiom has agreed to purchase the site, which is approximately 2,212 sq m. The land was declared by the members of Richmond Club to be non-core property at the Club’s Annual General Meeting last November for the purpose of a Hotel only.

Group CEO of Richmond Club, Kimberley Talbot, said that the announcement is the culmination of 10 months of negotiations and a 20 year journey by the club’s Board of Directors both past and present to bring a hotel development to Richmond and the Hawkesbury region.

‘It is fitting that in our 70th year we are able to announce this amazing development for the club members and the wider community,’ she said. ‘The project will provide state of the art accommodation to the Hawkesbury, and will be a major boost to the growing tourism sector in Western Sydney. We are proud to be associated with Axiom to bring the hotel to fruition.’

The development is predicted to create over 100 jobs during construction and a further 50 ongoing jobs once completed, the majority of them being local. Hotel accommodation will also allow Richmond Club to increase their support for local tourism through events like the World Polo Championship and Australian Seniors PGA in the future.

Ms. Talbot also noted that while the decision to sell the land was a difficult one for the Board of Directors, and not one that she personally wanted in preference to a ground lease, however the sale will enable the club to incur minimal debt for the first stage of the future development, a $2.8m fitout to the club function rooms. Separate to these developments, a $10m extension to Hawkesbury Living is awaiting final bank approval, and there is also the intention to begin planning for a multi-story carpark when it is required.

‘I would like to congratulate the Board of Directors for their hard work to reach this stage of the development,’ Ms Talbot said. ‘A number have been involved in the hotel plans for over 15 years, and in particular our Chairman, Mr Geoff Luscombe, has been an integral part of the planning for 18 years, and closely linked with the club and community since childhood.’

A concurrent deal for the hotel operator will be announced shortly, and following this design works and the planning approval process are scheduled to begin in early August.
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