Exclusive: It is a real estate portfolio that has something for everyone: plush apartments in Sydney, stables at city racetracks, properties to train thoroughbreds, farms to rehome ex-racehorses and land to produce hay for horses under Racing NSW’s care.
In the past seven years, the racing authority has launched a spending spree that has seen it acquire more than 50 properties for an outlay in excess of $125 million.
It is an investment strategy that is also being employed in another sport with an obvious link to the thoroughbred industry - via Racing NSW chief executive Peter V’landys.
V’landys is also the chairman of the Australian Rugby League Commission, the national administrative body of the code that includes the NRL.
He reportedly wants the NRL to reach $300 million in assets and while it is uncertain what a Racing NSW property target looks like, there is no question that racing and real estate deals have become inseparable bedfellows across the state.
With the announcement of the potential sale of Rosehill racecourse - and the search for a new site for a racetrack in Sydney - The Straight reviewed the property acquisitions of Racing NSW after accessing state land title records.
Top five properties purchased by Racing NSW since 2017
| Property | Price | Link |
|---|---|---|
| Bong Bong Farm, Moss Vale | $22,500,000 | Listing |
| Princes Farm, Castlereagh | $14,000,000 | |
| Glencoe, Hambledon Hill | $7,200,000 | Listing |
| 121 Racecourse Rd, Clarendon | $6,270,000 | Listing |
| Lynton - 337 Range Rd, Baw Baw | $5,420,000 | Listing |
Welfare
This Racing NSW strategy began in earnest in June 2017 with the $5.04 million purchase of 992 hectares of land in Capertee, about 50km north of Lithgow, on the NSW Central Tablelands.
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