Hakoah: what you need to know

November 7, 2019 by J-Wire Newsdesk
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Facts and figures.

THE FACILITIES

This once-in-a-generation project is a comprehensive redevelopment of the entire site, and will deliver:

Club building, function, and community venue

500 lecture mode, 180-300 banquet mode, restaurant, club lounge, bridge school, communal meeting and event spaces;

Southern grandstand building

Health, wellness and social program venue;

Enclosed multi-use courts

Basketball, netball, futsal and events space;

Tennis (by Sydney Maccabi Tennis Club)

9 Courts, Pro-shop, coaching and infrastructure;

Pools

Heated, 5 lane, 25m lap pool, and enclosed heated learn-to-swim pool;

Synthetic full-size football field

Floodlit, 276 seat grandstand (match capacity 500), infrastructure, or 8 small format pitches;

Parking

~ 260 cars, 28 motorcycles, 100 bicycles

WHAT WILL IT COST?

The project development budget is estimated at $60m – including a $5m provision for working capital.

This budget is based on the Detailed DA architectural plans. The build budget has been validated by an independent quantity surveyor and cost estimates from two respected builders.

HOW WILL IT BE FUNDED?

For conservatism, $60m is regarded as a prudent estimate of the funding required for the project. This leaves a capital reserve for working capital and unexpected contingencies beyond the allowances provided in the budget.

In broad terms the potential sources of capital funding available for the project are as follows:

• Philanthropy – lead and major donors
• Community fundraising – patrons
• Memberships presales – platinum, gold and silver • Government support
• Bank finance (if required)

IS IT SUSTAINABLE?

Yes – because we have a communal operating model.

At its core, the business plan is extremely simple, and well precedented. The vast majority of revenue is accounted for by fitness and social membership, and commercial rentals, with a minor reliance on food and beverage, functions, events, parking, signage and sponsorships.

The core activities deliver predictable and sustainable income and surpluses, which can then be applied to fund Jewish community programs and activities on site, or elsewhere. The business case demonstrates annual revenue of round $7m, and a predictable surplus in the $2.5m p.a. range.

WHAT WILL IT COST FOR MEMBERS

A range of membership packages are on offer, from individual social or gym membership purchased on an annual basis, to pre-purchase of long-term family packages.

The membership packages include:
• Platinum – 20 year Club membership, plus 10 year gym membership (2 people)
• Gold and Silver – 10 / 5 year Club, plus 10 / 5 year 50% discount gym membership (individual)

• Gym • Social

All offer value for money, with the value of Club and gym membership entitlements exceeding the cost of the respective platinum, gold or silver membership package.

Gym membership is affordable, and in line with equivalent offerings. For example, gym packages in the $40 per week range can be expected. Annual social membership is forecast at $240 p.a. and is broadly equivalent to membership of the old Hakoah Club with family, pensioner and student discounts available. Pool fitness only membership is available at a cost similar to an annual access pass at public swimming pools.

THE DIRECTORS

President: Steven Lowy AM

Vice-President: George Farkas

Treasurer: Kevin Wunsh

Directors: Greg Einfeld. Phil Green, Ali Linz, Lance Rosenberg, Danny Yezersk

HOW DOES HAKOAH LEAD TO CONTINUITY?

Community is a result of thousands of interactions between people.

The digital age has resulted in less human connection, not more.

Social Media and technology addiction is having a corrosive effect on our social lives.

How do we prepare for a strong Jewish future in this challenging environment?

HAKOAH will be a space that amplifies connections.

Through sport, culture, food, wellness and learning, HAKOAH will create a sense of community.

Community that instils pride and belonging.

Lifelong friendships and loving relationships will be formed at HAKOAH.

This is how we will build the future of our Jewish community.

Through strengthening connections and making new connections.

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