Last Friday, the club invited Hong Kong's developers to draw up and submit their redevelopment proposals. Interest was widespread as the club's location at the junction of Austin Road and Cox's Road is a sought-after area. However, based on land lease restrictions, the site can only be developed into a sport and recreational facility.

'There will be no commercial or residential projects on our site, we're only upgrading our sport and dining facilities,' said Frankie Wong, president of the club. 'We are looking for a partnership to carry out our concept.'

The club will repay the redevelopment costs based on the developer's payment terms.

However, the developer must hand over the new property to the club.

Developers are always looking for residential and commercial projects with high profit margins or high rental yields, and they seldom act as a project manager or builder on a redevelopment, according to one development firm.

'We are worried that developers may not be interested in our project,' Mr Wong said. 'If no one takes it, we will look for another development scheme.'

Honorary club secretary John Lunn said: 'Our facilities are old. We have planned the club house redevelopment for about two years.

'We will have the funding for the construction work through recruiting new members, debentures and car parking fees.'

Added Mr Wong: 'We are not worried about the cost. We will recruit new members during the construction period. The number of members is expected to increase at least three times to 1,200 or 1,500 members. We would have HK$70 million, if we recruited 500 new members.'

The club's concept calls for indoor and outdoor bowling greens, three tennis courts, four badminton courts, a swimming pool and dining facilities.

The club has 400 active members. New registrations will begin once the redevelopment project is finalised.