The problems at Australia’s legacy private members’ clubs are vast and varied. There’s the ageing membership, the surging upkeep of their heritage-listed buildings, and the greater competition for patronage now offered by wellness clubs with oxygen chambers and magnesium baths (today’s emerging powerbrokers have no interest in scotch, they’d rather live forever).In July, Sydney’s 131-year-old City Tattersalls Club collapsed into administration, while that city’s Australian Club (the oldest and grandest in the country) posted a $3.1 million half-year loss.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles