New clubhouse secure

GOLF

The Manawatu Golf Club can sleep easily, with about $2.4 million raised to pay for its $2.7m clubhouse.

The new building is to be officially opened on Saturday after being handed over to the club by Humphries Construction on target two weeks ago.

Club manager Rhys Watkins said about $300,000 of assured income was still to come in from charitable trusts and debentures.

There are 220 debenture holders from a senior club membership of 879, although more are expected now members have seen the building.

The contract price for the clubhouse was $2.3m. Alterations, temporary building, architect's fees and new furniture added about $400,000.

Watkins said that besides the debentures, the club would also have a small mortgage.

Operational costs would run separately but the profits of the past would be used for repayments.

"Debentures will be paid back each year from fundraising," Watkins said.

That might extend over 15 years. The debentures were sold in $1000 lots and a lottery system will be used to repay them to members.

The club also plans to convert the old upstairs lounge extension to a juniors room and a meeting room for up to 50 people.

Only the ceiling was touched during the renovations.

The club's campaign to enlist new members through a reduced subscription of $595 for September-October produced the desired 100 members.

Manawatu's next plan is to move from a club executive to a board, probably next year.

- © Fairfax NZ News