$5bn sale of Rosehill Gardens could fund new world class racecourse in Western Sydney

Funds from the billion-dollar sale of Rosehill Gardens Racecourse would finance a new Sydney racetrack under a revamped proposal sent to Australian Turf Club members.

The NSW Government will pay at least $5 billion for Rosehill Gardens Racecourse to create space for 25,000 new homes and fund a new racecourse under a proposal sent to members of the Australian Turf Club on Wednesday night.

The proposal identifies two new sites, one in Penrith and one to the east of the current track at Rosehill, as potential homes for a replacement Group 1 racetrack of “equal or better quality” to the current racecourse.

ATC chairman Peter McGauran said the guarantee of a minimum $5 billion for the racecourse would make the ATC the most financially secure racing club in the world.

“Many members love Rosehill Gardens and are reluctant to see it go but the truth is it’s an outdated venue with declining crowds and this proposal can rejuvenate and secure the racing industry for many generations to come,” he said.

A vocal “Save Rosehill” campaign is lobbying the 11,500 ATC members to vote against the sale at the extraordinary general meeting on April 3rd. More than half the votes need to be in favour to get the proposal over the line.

An artist’s impression of the proposed upgrades to the facilities at Royal Randwick Racecourse. Picture: Supplied.

“This resolution is without any doubt the most important and consequential in the history of our Club and it is vital that every ATC Member votes,” Mr McGauran said.

NSW Premier Chris Minns has already warned that the sale is a once in a lifetime opportunity that is dependent on the decision being made before the new Metro station is built. It would create a new suburb of 25,000 badly needed new homes for Sydney.

“The government is only going to build a metro through the line … once. It can’t happen again. So it’s not as if the organisation will be able to revisit this opportunity in 10, 15, 20 years’ time,” he said earlier this month.

The proposed covered entrance to Royal Randwick Racecourse. Picture: Supplied.

Proposed upgrades to the spectator facilities at Warwick Farm Racecourse. Picture: Supplied.

Mr McGauran said the $5 billion cash bonanza over the next 15 years would see upgrades to existing racecourses at Royal Randwick, Warwick Farm and Canterbury Park as well as pay for a completely new course.

“Members and spectators will ultimately enjoy world-class facilities not just on race days but seven days a week across several sites in Sydney,” he said.

Randwick would see a new hotel and members club with a rooftop pool overlooking the track while spectator facilities at Warwick Farm and Canterbury Park would be upgraded.

“Trainers and jockeys will benefit from tracks, training centres and facilities unparalleled in world racing,” Mr McGauran said.

Warwick Farm racecourse would be redesigned with a longer straight and cambered turns to fit a racecourse the size of Flemington onto the existing site. Prize money would be secured into the future.

The proposal also promises a replacement racecourse will be open before Rosehill Gardens closes in five years time. Negotiations are already underway with two owners of private land to the east of the existing racecourse at Rosehill.

Discussions are also underway with the owner of a second site in the Penrith LGA which is large enough to accommodate a world class racecourse and training for up to 350 horses.

A third site near the new Western Sydney Airport is also considered an outside chance for development.

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Originally published as $5bn sale of Rosehill Gardens could fund new world class racecourse in Western Sydney