This story was prepared by Bayleys Hamilton and is being published by the New Zealand Herald as advertorial.
Following Waikato Thoroughbred Racing’s announcement last November to search for land that could house a single site for racing and training in central Waikato, Bayleys Real Estate was engaged to seek potential vendors.
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Hamilton-based rural specialist Peter Kelly is inviting expressions of interest for a proposed Greenfield site between 125 and 200ha within central Waikato. Envisioned to replace racing and training venues in Te Rapa, Cambridge and Waipā, the consolidation would develop a single, world-class facility.
“The new venue will support the training of up to 1250 thoroughbreds daily, operate 365 days a year and host up to 50 race or trial meetings annually,” says Kelly. In centralising Waikato Thoroughbred’s operations, Kelly says it will future-proof the region’s racing ecosystem and enhance the industry’s significant economic contribution – more than $505 million annually in the Waikato alone.
The merger of Waikato Racing Club, Cambridge Jockey Club and Waipā Racing Club in August 2023 came off the back of the Messara Report – an independent reportcompiled by Australian expert John Messara in 2018. The blunt appraisal addressed the reality that closure of numerous clubs throughout New Zealand was inevitable for the industry’s survival.
This merger allowed the formation of a robust platform to develop the long-term sustainability of Waikato thoroughbred racing. A single, fit-for-purpose facility in central Waikato could attract and keep trainers; provide a range of quality surfaces, with convenient access for relevant businesses such as veterinarians and farriers. It could also have the potential to attract and support more people into the industry.
A “super hub” could extend to even more opportunities that would support the industry as a whole. This could include other horse-related activities, with creating an events centre to generate extra income.
Kelly’s job is to narrow down options that will best suit WTF’s needs.
Criteria:
- 125 – 200ha
- Excellent access to major transport routes
- Flat land
- Soil – sand throughout, suitable for racing, no peat
- Reliable water supply and consents for irrigation
- No greater than 25 minutes’ drive from Hamilton and situated between Hamilton, Cambridge and Te Awamutu
- Not immediately adjacent to urbanisation pressures in the next 50 years
Potential vendor parties are invited to register expressions of interest and submit tenders at their acceptable price. Kelly says offers will remain irrevocable for a period of two weeks, adding the EOI process will close at 4pm on Wednesday, February 19, 2025.
“Upon closing, Waikato Thoroughbred Racing will complete a comprehensive due diligence. The short list of parties will be invited to enter final negotiations and submit their best and final tender by 4pm on Friday, March 7, 2025.”
Kellysays any final decision will be subject to sufficient risk mitigation of a final viable proposition. “It will also be subject to endorsement by a majority decision of WTR’s membership at a special general meeting or similar in late 2025.”
If and when the project is completed, it could take a further eight to 10 years – and see the sale of the three current tracks to help fund a new facility.
Contact Peter Kelly on 027 432 4278 or [email protected] for more information.