The Club was established in 1979, and its purpose is to allow Canberra people to undertake coastal and offshore cruising, and to compete in the occasional ocean race. The Club has owned several racing and cruising yachts over the years.
The current yacht, a Bavaria 46 Cruiser was was formally commissioned and named Namadgi 3 at a ceremony held on 15 July 2017, and is berthed at the Gladesville Bridge Marina in Sydney Harbour.
Membership in the Club is especially suited to those without the time or funds to maintain a yacht on their own, and is an ideal way for sailors to gain practical experience before acquiring their own yacht. The number of members is limited to 26.