Billion-dollar Sunlight – Gold Coast Turf Club development gains stakeholder approval

A $1 billion development that promises to transform the Gold Coast Turf Club (GCTC) and future-proof racing at the popular Queensland holiday destination is one step closer to being shovel-ready.

The huge project, which will redevelop two hectares of land at the northern end of the turf club into residential, retail and entertainment facilities, has been on the drawing board since late last decade.

The Sunlight Lifestyle Precinct development is a joint venture between the Turf Club and Aquis, which is also a prolific owner and breeder under different entities including Tony Fung Investments.

The major development, which received council approval in August last year, is named after the 2018 Magic Millions 2YO Classic and three-time Group 1 winner Sunlight, which was co-owned by Aquis’ Fung family.

The apartments and leisure facilities, which will be built where the current tie-up stalls are located, have been given community stakeholder approval, allowing the Sunlight precinct to enter its next stage.

It follows on from the club installing a polytrack and redeveloping its turf track as well as opening its $11 million Traintech 300-horse stable facility, which has allowed an increased number of trainers and horses to be based on the Gold Coast.

GCTC chief executive Steve Lines is confident that the large-scale project will future-proof racing on the holiday strip at a time when the wider racing industry faces declining wagering revenue.

“(This project) sets us up to be self-sustained in every way, we won’t be dependent on anything or anybody, and that way we can be our own identity and not rely on handouts and funding from various governments and so forth,” Lines told The Straight.

“(Wagering has been) declining, but notwithstanding that, we’ve got a business here that’s an entertainment business and we’re going to have double-digit growth again this year. 

“Whilst we’ve done these major upgrades, we’ve been able to keep our business alive, and we’ve had attendance as good as previous years. 

“That entertainment industry that we run has afforded us to be profitable and grow year on year for the last eight years.”

Lines said the Sunlight masterplan had been seven years in the making and he expects it to be another 18 months before building commences.

The club secured a parcel of land, which was owned by a Victorian developer, at the southern end of the racecourse, which has allowed space to relocate the tie-up stalls from their current position.

“The priority is around the relocation of our tie-up stalls, which is a project that’s had a DA (development application) approved as part of this, so we need to relocate our tie-ups to the southern end of the racetrack,” Lines said.

“But, fundamentally, once all that’s nailed and completed, then we can start to think about turning to the development.”

Hong Kong-based Aquis owner Tony Fung’s son John will oversee the delivery of the project.

“We’re incredibly proud to be part of such a transformative vision,” John Fung said. 

“Sunlight will be more than a precinct; it’s a chance to create a lasting destination that captures the spirit of the Gold Coast.

“Our team is energised and working closely with the turf club to take the project to market.”

The Sunlight Lifestyle Precinct, designed by architecture firm Woods Bagot, will provide tropical-inspired homes, short-stay serviced apartments, rooftop pools, dining areas and rooftop terraces overlooking the racecourse.

Lines believes the project, once completed, will complement the regular racing at the venue, particularly the Gold Coast’s night meetings.

Like father, like son – John Fung follows Hong Kong family into thoroughbred business

John Fung is the latest member of the Aquis Farm, TFI family enamoured by the thoroughbred and he’s continuing his equine education in all facets of the racing and breeding industries.

The StraightTim Rowe

“We’re happy with a couple of the night meetings that we’ve had so far. One or two were a bit soft there, but there is a boisterous future for it as long as we invest in it,” he said.

As for the racecourse itself, the turf track will be out of action soon as curators perform a renovation early in the spring to have it in peak condition for the Magic Millions carnival early in the new year.

The turf surface has been troubled since its inception, being removed from the calendar last year, and it faced another hurdle on the eve of this year’s Magic Millions carnival in January when a section of turf on the home turn was poisoned.

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“We’ll pull it down for about four weeks at this point in time, so we’ll race on the Poly for four weeks and give it (the turf track) the renovation that we’ve been trying to (give it for some time),” he said.

“We know where it can be. It’s just we’ve got to give it the time to make that happen and it continues to improve as the more we race on it, the better it’s going to get. 

“But it just needs this renovation to get it through and … once we’ve done that, we’re in good hands for the big meetings coming up next year.”

Moonee Valley is also undertaking its own development, with the Victorian race club last week appointing Symal to undertake the civil and infrastructure works for its $200 million-plus redevelopment.

It will be out of action for more than 12 months with the 2026 Cox Plate to be held at either Flemington or Caulfield.