FCC given new 3-year lease

FCC given new 3-year lease

Dear Members,

I am very pleased to inform you that the FCC has secured an extension to the lease on our Clubhouse for a further three years from 2 January 2023 until 1 January 2026.

We have received an offer from our landlord, the Government Property Agency, which is subject to contract, and the Board has confirmed our acceptance of this offer. This means we can continue in our home and provide security of employment to our loyal staff. We expect to sign the new lease in the coming days.

The lease contains other provisions that are now standard in all government leases, including allowing the Government to terminate the lease at any time with 3 months notice, or immediately if in the interest of national security.

With our immediate future now secure, we can continue to be the world’s best press club and we look forward to welcoming all members to continue enjoying our unrivalled ambience and hospitality. The past few years have been extremely challenging for the Club, and I want to thank all of you for your support and patronage. I also would like to thank all the Members of the Board of Governors who worked tirelessly with me to help achieve this positive outcome, with a special thanks to our Treasurer, Tim Huxley.

With our future settled, we also now need to ensure that our financial position is strengthened. We will therefore be making some amendments to our fees. From January 1st 2023, monthly subscriptions for all categories of membership will rise by HK$ 100 per month to HK$ 1200. This will be the first increase in monthly subscriptions in seven years and the FCC remains one of the best value Clubs in Hong Kong.

In addition, from Lunar New Year’s Eve 2023 (21 January), joining fees for Associate Members will rise to HK$ 45,000 while for new Correspondent and Journalist members, the joining fee will rise by a similar percentage to HK$ 3,850. Our discounted scheme for early career journalists will remain unchanged. All membership applications received before that date will be eligible for the current joining fees, regardless of when membership is approved.

These changes are necessary to help us to begin to restore the financial health of the Club after the uncertainties of the past few years. In addition, the Board will be considering other proposals, such as the introduction of a spouse fee and possible amendments to the Silver Membership category. However these changes would require an amendment to the Articles and hence need further discussion and consultation with the members.

I am happy to answer any questions you have. And I look forward to seeing you around the bar.

Yours faithfully,

Keith Richburg President

30 November 2022