Melbourne Racing Club (MRC) has ruled out sale of Sandown
The Melbourne Racing Club (MRC) has ruled out a partial sale of Sandown. Following an MRC board vote in late 2023, the future of Sandown is now somewhat clearer – it is either sold and completely developed, or it is retained as a racing facility.
“They’ve analysed the various options available to Sandown and the partial option, given that it’s 112 hectares, it’s really quite restrictive. You’ve got the racing, the big lake and the waterways through the middle. To sort of try to do a partial development, just has a huge financial impact on the overall value of the Sandown precinct. So it’s not our preferred choice at this point in time,” MRC chairman Matt Cain told Racing.com.
“I think the board’s very unanimous and clear on our view on Sandown and that is to get the rezoning of Sandown completed in the first instance. Now that’s sitting with the State Government and the planning minister. We are sort of in formal submission processes and display processes in the near future. The outcome of that is still not expected until later this year, early 2025. That’ll allow us to obviously attribute the appropriate value to that land, which we’ll utilise for our other funding options here with the Caulfield master plan and potentially the new members’ grandstand. So at the moment, that’s our focus.”