The West Group, a not for profit group of social clubs based in Newcastle (NSW), has invested $19M to purchase one of its own club houses, located in the Newcastle CBD.
Wests CEO Philip Gardner is quoted saying "If you look at the population we serve, we're very heavily skewed to the plus-55 end of the market, so it's a natural thing for us to look at.
"It'll come back to demand, and the changing nature of the city over the next 10 years or so, what we do in that precinct, but you very rarely get the opportunity to buy a whole city block to develop an entertainment precinct, seniors living apartments, hotels on that city block."
