Plans progressing for the centralisation of Waikato Racing

[Chief Stipe]

MEDIA RELEASE | Single racing and training site on the cards for WTR

waikatoracing.co.nz

MEDIA RELEASE

The Waikato Thoroughbred Racing (WTR)* Board is pleased to announce that members have today agreed to undertake further work towards securing a single fit-for-purpose site for racing and training in the Waikato.

This announcement follows endorsement by WTR members at its AGM on Monday 18 November and is the result of extensive feasibility studies and independent assessments to identify a sustainable option that will meet the long-term needs of the racing industry.

WTR Board Chair Bruce Harvey said a Greenfield site option was decided upon as this is the most financially viable option for a sustainable future.

“A Greenfield site will not only centralise our operations but also future-proof the entire racing ecosystem in the Waikato region," he said.

Mr Harvey said the options considered under the feasibility study included various combinations of racing and training locations, with the Greenfield site emerging as the most realistic and beneficial option.

“The decision to pursue a Greenfield site was influenced by several factors, including the financial operation of the current sites, the challenges of training at Cambridge into the future due to new housing developments, and the need for a self-sustaining operation.” 

The Board identified several other factors that contributed to the decision to go for an entirely new site.  These include:

•    bringing together the expertise and strength of the local racing fraternity into one centralised location
•    creates a fit-for-purpose venue designed for training and racing
•    provides a ‘super-hub’ for other horse-related activities and users 
•    creating a modern functions and events centre as part of the development that can be used to generate additional income.

The new Greenfield site is likely to be located within a triangle between Hamilton, Te Awamutu, and Cambridge and work will begin immediately to narrow down options that could potentially meet WTR needs.  

“The criteria for the Greenfield site includes having excellent access to major transport routes, flat land with good soil and a reliable water supply,” Mr Harvey said.

WTR is running an open process to find the best opportunity for a Greenfield site and has engaged Bayleys to lead this process. 

A shortlist of possible options is expected to be considered in the first quarter of 2025. 

A due diligence process will be undertaken on the preferred site. As part of this process a formal business case will be prepared around de-risking the project and there is still significant work to be undertaken to be able to address the total project funding. This business case will be presented to members for consideration in October 2025.

A new site would eventually replace the racing and training venues in Te Rapa, Cambridge and Waipa.

 

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Economic Impact: The racing industry in the Waikato region generates more than $505.3 million in value-added contribution to Gross Domestic Product, sustaining a total of 3,812 full-time equivalent jobs in the region. The new Greenfield development is expected to further enhance the economic benefits of racing to the Waikato.

* The Waikato Thoroughbred Racing (WTR) is an amalgamation of the Waikato Racing Club, the Cambridge Jockey Club, and the Waipa Racing Club and happened in August 2023.

 

Bruce Harvey, Chair & Andrew Castles, CEO after the unanimous vote from WTR members at the AGM.

Other quotes

Mayor Paula Southgate, Hamilton City

“This venture could be wonderful for both our city and our region.   Racing is a strong contributor to our local and national economy. 

Hamilton is also ready to welcome more visitors, with two new high-end hotels on the horizon and Jetstar’s recent announcement of flights from Australia to Hamilton. We look forward to working with Waikato Thoroughbred Racing as they explore development of an equestrian ‘super-hub.’ 
 
Centralising the expertise and strength of our regional racing fraternity can only mean good things for the competitiveness and sustainability of our local racing industry and we welcome the boost a new fit-for-purpose venue would give to our regional profile and economy.”

Mayor Susan O’Regan, Waipa District

“We are delighted to work with and support Waikato Thoroughbred Racing in this exciting strategic initiative which will not only help future-proof the local racing industry but will further strengthen connections across our Waikato region. 

We are immensely proud of our rich equestrian heritage in Waipā, and with more than $505 million generated by racing in the Waikato each year, the sport is a significant and valued cornerstone of our economy, employing thousands of people and bringing fun and entertainment to many thousands more. We welcome the new opportunities this venture will unlock both across our district and the wider region.” 

For further information:

Publicly available information regarding the project is available on WTR’s website. 

 

[Murray Fish]

45 minutes ago, Chief Stipe said:

A new site would eventually replace the racing and training venues in Te Rapa, Cambridge and Waipa.

wow, I wonder how that will play out for the trainers that own properties in and around those places???

[Huey]

1 hour ago, Murray Fish said:

wow, I wonder how that will play out for the trainers that own properties in and around those places???

They call it progress, it'll take 2 years of abandonements to get it right at any rate.

[Chief Stipe]

Well it won't be entirely a one stop shop will it.  You can't exactly put the new $15m AWT on a trailer!!

[Bill]

2 hours ago, Murray Fish said:

wow, I wonder how that will play out for the trainers that own properties in and around those places???

All worth an absolute fortune

[Trojan]

1 hour ago, Huey said:

They call it progress, it'll take 2 years of abandonements to get it right at any rate.

Hopefully they don't use the same Ellerslie experts.