“After a robust process we have engaged Bayleys Real Estate to look for the right parcel of land and we want to be able to present options to our members later next year.
“That will also include showing we have de-risked the project, effectively finding the financing to make it work.”
If, as looks increasingly likely, the Greenfield project goes ahead ideally the sale of the three existing venues would help fund the new facility,
Just as importantly, the purpose-built facility will be future-proofed from the spread of residential and commercial developments in both Te Rapa and Cambridge.
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 futureproof the entire racing ecosystem in the Waikato region,” he said.
Harvey said the options considered under a 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
- creating a fit-for-purpose venue designed for training and racing
- providing 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.
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.
Castles says the potential development and move from the traditional training centres had been supported by leading trainers who attended Monday’s meeting, who share the WTR view of the new facility being the best long-term option for racing in the region.
The racing industry in the Waikato region generates more than $505 million in value-added contribution to Gross Domestic Product, sustaining a total of 3812 fulltime equivalent jobs in the region.
The new Greenfield development is expected to further enhance the economic benefits of racing to the Waikato.
The potential development also met with the approval of Hamilton mayor Paula Southgate.
“This venture could be wonderful for both our city and our region,” Southgate said.
“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.”
Michael Guerin wrote his first nationally published racing articles while still in school and started writing about horse racing and the gambling industry for the Herald as a 20-year-old in 1990. He became the Herald’s Racing Editor in 1995 and covers the world’s biggest horse racing carnivals.
