And, they’re off and racing!

The search is on for land suitable to create a new purpose-built facility for Waikato Thoroughbred Racing operations.

Bayleys Real Estate agent Peter Kelly is leading the search for land capable of handling the training of up to 1250 thoroughbreds daily, operating 365 days a year, and hosting up to 50 race or trial meetings annually.

The new venue will centralise the activities of the region’s three existing training and racing venues at Te Rapa, Cambridge and Waipa.

Kelly says the aim is to futureproof the racing ecosystem in the Waikato region, ensuring its sustainability and enhancing the sport’s significant economic contributions to the region.

“We’re looking for a special parcel of land that best fits with our detailed criteria in terms of its size, soil type, location, and suitability,” he says.

Kelly is hoping to locate 10 or more properties and is inviting expressions of interest from landowners in the region to submit tenders at their acceptable price by 4pm on Wednesday, the 19th of February 2025.

From those expressions of interest, Kelly says Waikato Thoroughbred Racing will complete comprehensive due diligence on each of the properties to narrow down a short list of three or four which will go forward to the next stage of the search.

“Offers from vendors in the first stage will be irrevocable for three weeks while a short list of favoured properties is considered and those parties that make our short list will be invited to enter final negotiations and submit their best and final tender by 4pm on Friday, the 14th of March, 2025.”

For the initial property search, a detailed list of criteria is being circulated to landowners on request by Waikato Thoroughbred Racing.

Kelly says the Greenfields site must be a minimum of 125ha and up to 200ha, ideally flat in contour with a free-draining soil type, preferably with sand through its profile to make it suitable for horse racing at all times of the year and not hinder the consents required to operate a horse training and racing venue.

“Peat soils have been excluded from our criteria,” he says.

Access to irrigation water to maintain the required cover for tracks and surrounding land is crucial, together with the required consents. To ensure satisfactory ground conditions, a detailed geotechnical survey will be conducted during the final stages of due diligence on the selected short list properties.

Kelly says location is also a big consideration for the venue. The aim is to select land that has safe access with good visibility on and off nearby motorways or main roads.

“Ideally, we’re looking for a property that is no greater than 30 minutes driving time from the midpoint between Hamilton and Cambridge and preferably situated between Hamilton, Cambridge, and Te Awamutu,” he says.

Sites must have no significant natural hazards, cultural factors, or ecological issues that would impact on the use of the site, and it must be able to be consented for racing purposes and related business activity, from horse stabling to horse sales and veterinary services.

“A big consideration is that we’re looking for a site that doesn’t have any immediate pressure from urban sprawl, preferably for the next 50 years,” Kelly says.

The decision to purchase a Greenfields site will be subject to developing a final viable proposition which is also endorsed by a majority decision of Waikato Thoroughbred Racing members at a special general or similar meeting expected to be held later this year.

Kelly says settlement will follow any further due diligence required and could be deferred while this is completed.

Thoroughbred horse racing has a rich history in the Waikato region, dating back to 1873 when events were held at Whatawhata and Pirongia.

“But we need to think of the future now and develop a new venue that will deliver a modern, world-class home for Waikato Thoroughbred Racing for the next 50 years,” he says.

“It’s an exciting proposition for landowners in the selected area to consider and be part of setting up a new hub for sport and entertainment for the wider region.”

“We want to create a world-class horse training and racing facility first and foremost, but there is scope to incorporate other sports and activities that want to be involved in the future,” Kelly says.

For more information, call Peter Kelly on 027 432 4278 or email peter.kelly@bayleys.co.nz