A farewell party was held at the club yesterday, where a "Farewell Riverside, Hello Trevallyn" cake was cut, paying tribute to the club's 52 years of operation.

Club president Les Harrison said it was a sad day for past and present members, but the club was no longer sustainable.

"The ground that the club is built on is owned by the [Riverside] golf club and our lease runs out soon," Mr Harrison said.

"We have investigated moving elsewhere but it wasn't viable.

"So unfortunately we have to close, but the really good thing is that Trevallyn has taken us on board in regards to membership."

Some of Riverside's memorabilia will also move to Trevallyn so history isn't lost.

Riverside life member Don Calver said the club formed in 1962 after Bruce Freeland donated a large parcel of land for the development of the golf and bowls clubs.

He said there was only a green for bowls at the time, and the club shared facilities with the golf club.

"We had a shed over in the corner, the social club used to hold events and we'd play Crown and Anchor," Mr Calver said.

"After 10 years they'd raised enough money to build a hall."

The hall, which is now known as the Herbert Russell Pavilion was officially opened on October 7, 1972, and has been used ever since.

Mr Calver said the camaraderie of the club, which he was at every day, would be the thing he would miss most.

The bowls club will be taken over by the Riverside Golf Club on June 30.