Important Notice - Conditional contracts exchanged with Bellway Homes

The Tennis Committee forward the following notice to ensure that all tennis members have seen this:-

NOTICE TO MEMBERS

Parsons Green Sports & Social Club, Broomhouse Lane, London SW6

In accordance with the Articles of Association the Directors have a fiduciary duty during this very difficult, financial period to ensure continuity of the Club and to remain clear from the zone of insolvency. We are therefore delighted to advise Members that after many months of negotiation, Conditional Contracts have now been exchanged with Bellway Homes Ltd (pt of Bellway PLC); the fourth largest house builders in the UK; that not only secures the Club's immediate financial future, but proposes a new modern clubhouse facility together with legacy payments as a contribution towards future running costs.

The Contract proposes the redevelopment of the croquet lawn nearest to Daisy Lane and the existing clubhouse building fronting Broomhouse Lane, subject to planning, for a new clubhouse and residential development. The Club will not only retain the freehold interest in the parcels of land but also enjoy the benefit of ground rents in perpetuity. Bellway Homes have paid a £144,000 non returnable deposit for a two year contract which is extendable by a further period of 12 months up to a maximum of five years from today, on payment of further non returnable deposits.

In due course, Bellway Homes will submit a joint planning application with the Club for the redevelopment of the two parcels of land. It is anticipated that the consultation period with Hammersmith & Fulham Borough Council will be lengthy so don't expect anything to happen in the immediate future.

In the event that satisfactory planning consent approved by our Members is secured and the Contract becomes unconditional, Bellway Homes will be responsible for building (estimated overall cost in the order of £2.5 to 3 million) a new fully fitted clubhouse for Parsons Green Sports & Social Club. In addition Bellway Homes will pay £0.5 million towards the future running costs of the Club and share any development profits over a priority return.

At the current moment in time we do not know if planning consent will be granted and accordingly the Board is not in a position to advise Members on what the new clubhouse will look like. The Contract does provide a generic specification for a new clubhouse as prepared by the Club's architect, KSS Design Group, together with a specification for temporary facilities whilst the new clubhouse is being built. Bellway Homes will work with the Club during the whole planning process and the Board will fully consult with Members on the new facility at the appropriate moment in time.

The Board of Directors have also agreed a 10 year "Pre-Emption Agreement" with Bellway Homes on the residue of land owned by the Club. This means that should the Club decide to sell all or part of the retained land during the next 10 years, it is offered in the first instance to Bellway Homes. If satisfactory terms cannot be agreed the Club is entitled to sell the land to another party. This has been agreed with Bellway Homes as part of the overall financial package and takes into account of any development potential on the adjoining School land which may ultimately benefit the Club.

The Board has not only secured the immediate financial stability but kept identity and control of the Club's assets. We look forward to preserving the Club's heritage at affordable subscriptions in new modern facilities.

Mr Michael Bond, our Vice Chairman responsible for redevelopment, will be available Sunday 15th July and Sunday 5th August between the hours of 12 noon to 2 pm to answer any immediate questions which members may have.

Further copies of this notice are available from the bar area.

Championships - First Round Matches

To be played by Sunday 22 July...best of luck to you all!

Men's Singles:-
Frank HOEY vs Adam HARVEY
Jim OLEKSIN vs Willem LORD
Richard VAUGHAN vs John LORD
Women's Singles:-
Priscilla OSBORNE vs Emer O'CALLAGHAN
Suzanne SHEPPARD vs Sally BLISS
Mixed Doubles:-
Emer O'CALLAGHAN/Myles CAVE-BROWNE-CAVE vs
Fiona HICKS/David COX

PGC Championships - 2007 Timetable

The draw for the 2007 PGC Championships has now been made and scheduled matches will be posted on the Tennis Section notice board at the club on 12 July. We also intend to email all those members who have provided their email address.

Based on the entries received each tournament (Women's Singles and Doubles, Men's Singles and Doubles and Mixed Doubles) will have a 1st Round, 2nd Round, Semi-Final and Final to be played strictly according to the following timetable:-

• 1st Round deadline: Sunday 22 July;
• 2nd Round deadline: Sunday 29 July;
• Semi-Final deadline: Thursday 9 August;
• Finals Day: Afternoon of Sunday 12 August;

John Lord will act as tournament referee in the event of any disputes.

Tickets for the Finals Day BBQ to be held on the evening of Sunday 12 August will be available soon.

The Tennis Committee