Racing Victoria (RV) is pleased to announce it has contracted to purchase a large parcel of land on the urban fringe of Melbourne to future proof the thoroughbred racing industry.
The acquisition is subject to strict confidentiality provisions and due diligence, with a three-month process to commence shortly.
The substantial plot of land, being more than three times the size of Flemington Racecourse, is located in Melbourne’s north-west. It is less than 10 minutes from Tullamarine Airport and is 30 minutes from the Melbourne CBD.
The area was deemed the most suitable to pursue this land banking opportunity given its proximity to key transport infrastructure, including the future Outer Metropolitan Ring Road; its easy access to the Melbourne CBD and inner suburbs; the current footprint of industry infrastructure; and the spread of the racehorse population within Victoria.
The future usage of the land has yet to be determined. Subject to the successful completion of the due diligence process, all potential future options would be the subject of extensive industry consultation and planning processes over coming years.
The land, which is being used for farming, has the potential to be developed for many purposes. These future options could include, but are not limited to, a new training centre, a new racetrack, equine welfare programs, quarantine facilities, and workforce development, as well as community engagement opportunities.
With its immediacy to Living Legends and the state’s major horse sales complex, the land provides Victorian racing with the potential to create a future world class horse precinct within reach of the Melbourne CBD.
RV Chief Executive, Giles Thompson, said: “We have been pursuing a land banking opportunity in the north-west region for several years now and are pleased to have now secured a significant parcel of land in this area.
“This land helps future proof our industry and delivers a valuable asset for Victorian racing. Its size and location provide the industry with a number of potential uses which will be workshopped and planned in the years to come.
“Any development of the land will only occur following a detailed feasibility and planning process involving extensive consultation with all our key industry stakeholders.
“In making this announcement, I want to acknowledge and thank the VRC for their assistance in helping the industry realise this unique and significant opportunity.”
In the coming weeks, RV will be releasing an infrastructure green paper which will consider the racing and training needs of the Victorian racing industry for the next decade with submissions to be invited from all stakeholders and interested parties.
The land purchase will form part of the green paper from which RV will be seeking to finalise an infrastructure blueprint for Victorian racing by mid-2023.