SPASC has a history dating back to at least 1905, and links with the local community including a strong association with Lake Macquarie City Council (LMCC) for over 50 years.

The clubhouse was built (in stages) at the current location around 1970 with members contributing labour, donations and organising a bank loan (no additions were made subsequent to original construction) with Department of Planning, Industry and Environment (DPIE) being the leaseholder of the site which is surrounded by Speers Point Park (under LMCC Management).  A Special Lease of the land on Speers Point Park was issued in November 1970 and expired at the end of December 2009, when this lease moved to ‘holding over provisions’ through Crown Lands.

In March 2008 LMCC adopted the Speers Point Park Master Plan, which encompassed the land occupied by SPASC, and stated "To ensure the survival of the sailing club, whilst also providing additional amenity to Speers Point Park, the potential exists for the sailing club building to be retrofitted to allow for the inclusion of a fit for purpose commercial operation".

SPASC supports the recommendations with respect to the future development of the clubhouse and site as detailed within the Speers Point Park Master Plan.