Ok have done some investigating.
The business lounge will be open as usual and will stay open with access through the new Qantas lounge. The existing half of the Qantas Club with the windows to the tarmac will then be turned into the NEW Business Lounge.
Once the New Business lounge is open then the current business lounge will be closed and it will be renovated and become part of the Qantas Club. This will mean two completely separate lounges.
During all of these renovations the normal entitlements will be in place such as 2 Guests for WP and above.
Hope that this answers every ones questions.
So the lounge is being done in 3 stages.
Stage One
Close half of the Qantas Club and Construction of the new Qantas Club currently due for completion.
Stage Two
Open the new Qantas Club and Construction of the New Business Lounge utilising half of the current Qantas Club Area facing the Tarmac, during which time the current business lounge will remain open as usual but with a different entrance.
Stage Three
Open the new Business Lounge and then Construction of the Qantas Club Extension using the current Business Lounge space.
Clear as mud LOL.