'Airspace' above historic Celtic Club to be offered to developers.

The Celtic Club in Melbourne has taken a bold step towards securing its long-term future by nailing down an agreement with a major company to redevelop the historic site.

The Exclusivity and Implementation Agreement (EIA) with Leighton Properties paves the way for a major redevelopment that, subject to members approval, will eventually lead to a state-of-the-art new home for Australia’s oldest Irish club.

The committee outlined the EIA — which was signed last week — in a memorandum to club members.

The Irish Echo understands that, if the deal goes ahead, it will ultimately involve the rehousing of the club within the site as part of a major redevelopment.

The ‘airspace’ above the existing club will be offered to the developer to build apartments and offices.

According to the memo to members, there are three steps to the plan — the viability phase, expected to take six months, the approvals phase, expected to take six to nine months and the market phase, which will take “at least twelve months”.

The EIA with Leightons does not give legal rights to Leighton Properties rights over the Club’s premises nor does it an any way constitute an agreement of sale, the memo states.

An information evening will be held for members in advance of a vote on the redevelopment plan later in the year.

“The Committee is committed to continuing to work closely with members to ensure the most effective outcome for members of the club,” the memo states.

The Celtic Club is Australia’s first Irish Club and was established in 1887. It moved to its current home in Queen St, Melbourne in 1959.