WTR exploring Greenfield site options

[Wandering Eyes]

The Waikato Thoroughbred Racing (WTR) board has announced that members have 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 yesterday 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.
 
“A Greenfield site will not only centralise our operations but also futureproof the entire racing ecosystem in the Waikato region,” WTR board chairman Bruce Harvey said.
 
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,” he said.
 
The Board identified several other factors that contributed to the decision to go for an entirely new site, including:
 

• 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,” 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.
 
Harvey said a new site would eventually replace the racing and training venues in Te Rapa, Cambridge and Waipa.

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