Narrabeen RSL sub-Branch has engaged CBRE and HTL Property to find a leaseholder for the popular Northern Beaches venue known as The Razza which went into voluntary administration in March.
Historically, one of the most popular music venues on Northern Beaches, the Narrabeen RSL Memorial and Recreational Club went into voluntary administration after the three-storey venue shut its doors in February after turnover and patronage took a pandemic-related hit.
CBRE’s Leif Olson and HTL Property’s Sam Handy seeking a leaseholder for the popular Northern Beaches music and hospitality venue.
To allow the facility to reopen, the Narrabeen RSL sub-Branch is seeking an operator with the right credentials to capitalise on the venue’s prime location behind Warriewood Square Shopping Centre and Narrabeen Lagoon, large residential trading catchment and an existing membership base of about 3500.
The venue landlord will work with the chosen operator to continue to facilitate a meeting point for veterans and their families to access services, support and camaraderie and also to commemorate.
“Savvy operators are changing tack, particularly post the pandemic, to increase their market appeal,” Mr Olson said. “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.”
The Razza also offered significant potential given there is limited surrounding competition across clubs, pubs, restaurants and bars, with long tenure, market rents and flexible terms available for qualified prospective tenants.
Adapting to suit a changing local clientele has already paid dividends for the reinvented Dee Why RSL, which recently underwent a two-year, $100m makeover, while retaining its essence as a services club. The new offering includes a cocktail bar with live music and DJs, a huge sports bar and a reimagining of its modern dining restaurant in Flame.
“The Northern Beaches pub market is incredibly strong, which has attracted the likes of leading operators such as Justin Hemmes, Fraser Short and ALH,” HTL’s Mr Handy said. “Narrabeen RSL provides a virtual blank canvas for an incoming operator to activate a more relevant and compelling F&B proposition and a completely differentiated offering across multiple levels, including extensive outdoor areas and use of the bowling greens.”
The Narrabeen Expressions of Interest campaign closes Thursday 7 July 2022 (if not leased prior).
