Spedan had long held a desire to create a country club for Partners, hoping to provide as many amenities as possible and foster a sense of community. He had first attempted this at his property Grove Farm in Harrow but sadly Spedan was forced to sell up in 1920 due to the terrible financial position Peter Jones was in at the time. This was followed by a short lived club in Teddington again closed due to financial difficulties, but Spedan remained determined.
Early in 1927 a suitable property was found: one which would not only offer sports and leisure activities for day visitors but also residential accommodation for Partners who would not otherwise be able to afford a second residence in the country. Formosa Place and Mill House thus became the embryonic Odney Club.
The house was built in the 1780s by Admiral Sir George Young to reflect his naval interests. He designed it (himself) to look as much as possible like a three-deck ship-of-the-line of the period, complete with Stern Gallery, Hawseholes, Cockpit and Orlop and a companion ladder to the front door! Sadly only the servants quarters remain of the original house; the unusually constructed building was in a state of disrepair when Spedan purchased it and after being briefly used for accommodation, the building was closed and demolished.