Caulfield Racecourse undergoes a $570 million revamp with concerts, food markets and racing

Racing, festivals, children’s sport and food markets will take centre stage in a $570m revamp to future proof Caulfield Racecourse.

Caulfield Racecourse would become a hub for racing, festivals, kids’ sport, and food markets.

Concerts, festivals, children’s sport, gala balls and food markets will be staged along with Group One racing as Caulfield Racecourse undergoes a $570 million revamp.

New artist’s impressions reveal the racecourse precinct of the future, with the Melbourne Racing Club aiming to transform it into “a major Victorian event hub by mid-decade”.

MRC chief executive Josh Blanksby told the Herald Sun the club was working with the Caulfield Racecourse Reserve Trust to unlock the site “so it can be so much more than a world-class racing destination”.

“Work at Caulfield is already underway tomake the 54 hectare reserve the centrepiece of sport and events in Melbourne,’’ he said.

Mr Blanksby said the precinct had been redesigned to cater to the future needs of racegoers and the public.

“A new grandstand, additional racetrack, floodlights, new sporting ovals and flexible outdoor spaces will see Caulfield Racecourse use every hectare of land so it can be activated 365 days a year,’’ he said.

An artist's impression of plans for the revamped Caulfield Racecourse.

It comes as managers of some of Melbourne’s biggest sporting venues, including Melbourne Park, the MCG, Flemington and Moonee Valley racecourses, consider ways to futureproof iconic event spaces.

Tennis Australia chief executive Craig Tiley said “the urgent short term priority’’ of the home of the Australian Open was to develop more permanent infrastructure at Melbourne Park, to “add value to the precinct for events year-round”.

Moonee Valley Racing Club chief executive Michael Browell said a $2 billion redevelopment of the precinct would make “The Valley of Tomorrow’’ the world capital of night racing.

“Track lighting, super screens and sound systems will be cutting edge,’’ he said.

“We will ensure that racing under lights at The Valley post redevelopment will be best in class from an on-course spectator perspective but also for broadcast.’’

The managers of Melbourne biggest sporting venues want to future proof the iconic spaces.

New rooftop lighting, a five-star hotel, rebuilt Shane Warne Stand, bars, restaurants, public BBQ decks and enhanced capacity form part of plans for a $1 billion redevelopment of the MCG.

But MCC chief executive Stuart Fox said even more changes could take place as a business was prepared.

“As ground managers of the MCG, we’re always exploring opportunities to enhance the MCG to ensure it remains world-class and provides exceptional facilities for both fans and partners,’’ he said.

Victoria Racing Club chief executive Steve Rosich said there were “no limits’’ to the “Flemington of the future’’.

“Flemington is first and foremost a racing event space but it’s also an event space for industry, for music and for major events,’’ he said.

“And there is no doubt we can also enhance the community elements of the facility to ensure it meets the requirements of a broader stakeholder group.’’

Melbourne and Olympic Parks Trust, governors of AAMI Park, the tennis precinct including Rod Laver Arena, refused to answer questions.

“An almost $1 billion redevelopment of Melbourne and Olympic Park has just been completed, future-proofing the precinct as a world-class destination for global sports and entertainment,’’ it said.

The AFL also declined to comment.