Racing club members to consider handing over land for stable expansion

Racing NSW announced the funding on February 29 for 80 stables and associated infrastructure, which have already gained council development approval.

The deal was conditional on the racing club signing over the 80 hectares it has owned since its 1999 establishment on the site.

GDRC chief executive, Robyn Fife, said the club wasn't aware of the proviso until after the announcement but she saw it as a "win-win" and a major driver for future business at the racecourse.

Nevertheless, she believed it was essential that members were fully briefed on the proposed arrangement.

The club and Racing NSW held a recent information session where members could ask questions. Some 22 people attended. Another session will be held on Monday, March 25 before members vote on two motions at an April 2 meeting either by proxy or in person.

They will be asked to consider, and if thought fit, to pass resolutions:

Fifty per cent support from the 200 membership base is needed to proceed with the deal.

Racing NSW CEO Peter Vlandys said the body's had a policy of future proofing the industry and ensuring that "racecourses weren't sold for the wrong reasons".

"Racing NSW's sole interest in transferring ownership of the land is to ensure that (it) remains a racecourse for the industry in perpetuity and is never at risk of being sold or converted for another purpose," he said in a statement.

"Ownership of the land is of no benefit to the club if there is no intention to ever sell it. In fact, retaining ownership...is a poor use of the club's capital assets as construction of stabling through this funding provides the club an opportunity to generate significant recurring revenues."

Mr Vlandys said the ownership precedent was set with other race clubs, including Newcastle, Gosford and Tuncurry Forster. In return, GDRC would operate as it currently does "with no additional costs or obligations" and have a long-term lease at peppercorn rate following transfer. The same arrangements apply at Moruya and Scone courses.

In addition to rent from stables and track fees, GDRC would receive additional Racing NSW funds based on increased horse numbers trained at the facility.

He said the funding followed a submission from GDRC and the Racing NSW funding proposal was "unanimously accepted by the board".

Ms Fife said the board felt the majority of trainers and members were "100 per cent behind the expansion proposal".

"Our training base has given us lots of positive feedback about what this means for our club's future direction and we only see enhanced opportunities for our members as well," she said.

"Any community-based club should respect its past but as a race club we are also very keen to build a future for our members and our training partners, something this proposal definitely commits to."

But she also acknowledged concern among some that "the club was selling out" for less than the land's worth.

"The fact is that we would never get that because we owe Racing NSW an interminable loan (given in 1999)," she said.

"Some people think it's settling for less than it's worth but if we want to progress further, this is the only way we can do it - in partnership with Racing NSW - otherwise we will stay doing the same thing for the next 25 years.

"This will mean more jobs for Goulburn and trainers can grow their business. It's a plus-plus on a lot of levels..."

She pointed out that Racing NSW effectively held a caveat over the land due to the original loan.

The club had also considered but ruled out borrowing money for the expansion.

Ms Fife said the club had been working on the expansion for the past eight years. Council approval was secured in the past year, after several modifications. However the club wasn't aware of the Racing NSW funding proposal until late February.

Under the arrangement, the governing body would pay for 80 stables with modern horse walkers, an equine pool and other infrastructure. A quantity surveyor is updating the cost.

Ms Fife said trainers had been asking for more stables for years and saw the value of expanding the facility.

Currently there are about seven trainers based at Goulburn but 40 use the racecourse.

"It's a big step towards maintaining and enhancing Goulburn's status as a premier country racing venue and an important economic contributor to our own regional economy long-term," Ms Fife said.

She did not believe the club would lose control of its operations but instead benefit from growth and income.

"We will run the club as we do now and Racing NSW will not be able to interfere in our operation. They will support us and work in tandem with us as a partner."

She hoped the project could be shovel ready by June for a December, 2024 completion.

On Sunday, March 24, the club will host the Southern Wildcard Country Championships race day.