Racing NSW eyes Goulburn racecourse acquisition in latest property move
Racing NSW wants to add the Goulburn racetrack to its extensive industry-related real estate portfolio, The Straight can reveal.
In a continuation of an almost decade-long push into the NSW property market to acquire crucial racing assets, a potential sale of the racecourse will be a key topic for discussion at a Goulburn Race Club (GRC) members’ meeting on Monday night.
The meeting will provide details on how a Racing NSW acquisition would unfold ahead of a membership vote on April 2 to decide the racetrack’s future.
It comes after a recent announcement that Goulburn has been slated to receive $9.5 million in funding allocated for a new stable complex that can accommodate up to 80 horses.
It is not clear if that funding is contingent on the members’ approval of the Racing NSW proposal.
“It will be an information-only meeting for members and a presentation will be made,” GRC chief executive Robyn Fife, told The Straight.
Fife said she was hoping a Racing NSW representative would attend the meeting to answer questions from members.
“There is still a lot of information between now and Monday that we are seeking … we still haven’t got the full package in front of us yet,” she said.
“But we feel it is a win-win for Racing NSW and for our members. You’ll see better facilities, you’ll see the club grow. We don’t want to stand still.”
The deal would see Racing NSW take ownership of the racecourse and lease it back to the club at a ‘peppercorn’ rate.
GRC has a board of 11 elected directors, according to the club’s website, with a small membership base of around 200.
The new Goulburn racetrack was built on 40 hectares of land on the northern edge of the southern tablelands city and it opened for thoroughbred racing in 1999.
It moved Goulburn into a new era, thanks to former NSW premier and federal MP John Fahey helping the club secure a $10 million grant to purchase the site.
Local real estate industry insiders suggest the racetrack land is worth at least $30 million on latest market valuations.
Goulburn is considered one of country NSW racing’s best assets but given its proximity to Sydney and its popularity with metropolitan trainers, it has often been linked to an upgrade to provincial status.
Located 130km south of Sydney, the racetrack regularly attracts runners from high-profile stables such as Gai Waterhouse and Adrian Bott’s Tulloch Lodge.
“We feel it is a win-win for Racing NSW and for our members. You’ll see better facilities, you’ll see the club grow.” – Robyn Fife
It is also home to prominent trainers Danny Williams and Matthew Dale.
Dale moved his primary stable to Goulburn in late 2022 after establishing a name for himself as one of Canberra’s leading trainers.
The prospect of improved facilities is also likely to be a major drawcard for other trainers following the major funding announcement for Goulburn that has been attached to an overall $20 million injection into thoroughbred industry projects throughout the state.
Goulburn has been slated to receive almost half of that handout with $9.5 million allocated for a new stable complex that can accommodate up to 80 horses.
Racing NSW confirmed when announcing the funding that the Goulburn project has received the necessary approvals.
Goulburn-based firm Dutaillis Architects lodged a development application with the Goulburn Mulwaree Council last year for the proposed new stables and associated works along Racecourse Drive.
Warwick Barr
An acquisition of the Goulburn racetrack would expand Racing NSW’s ownership of racecourses.
Racing NSW already counts Moruya, Scone and its surrounding precinct as well as Forster-Tuncurry as racetracks it has acquired in a real estate spending spree worth at least $125 million, as revealed in a special investigation by The Straight.
The country racetracks are part of an estimated group of at least 50 properties that Racing NSW has purchased during the past seven years.
It’s an investment strategy that also includes stables at city and provincial racetracks, farms for the rehoming of thoroughbreds under a welfare banner as well as inner-city apartments in Sydney.
Bong Bong Farm, located at Moss Vale in the NSW Southern Highlands, is the most expensive of those purchases, selling for $22.5 million in 2021.
The 37-hectare property has been leased to leading trainer Ciaron Maher as a private training centre with 60 boxes.
Staff Writer
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