News

Mooney Valley Racecourse reveals grand plans for future

6th Sep 2009

Herald Sun - Matt Stewart - Monday, 7 September 2009

MOONEE Valley racecourse could be subjected to the greatest overhaul for an Australian metropolitan racecourse.

Under a plan that the club believes would put $200 million in its coffers, the club is considering demolishing its grandstands and rebuilding along the north-east Wilson St boundary.

The new track would be completed in five to 10 years if given the all-clear by the Moonee Valley Racing Club board.

Chairman Bob Scarborough says the proposal is viable.

A new 325m home straight would finish at the bottom of the Tabaret, which might also be demolished and shifted under the proposal.

The layout of the course proper would be remoulded to fit in with the dramatic overhaul of the facilities.

MVRC chief executive Michael Browell said the next step for the club would be to draw up plans and costings.

He said it would be funded by the sale of the top corner of the track - at McPherson and Wilson Sts - for the construction of a retirement village.

"That might be worth anything up to $200 million for us," Browell said.

"The development of the new Moonee Valley might cost $150 million.

"The numbers appear to stack up. You sell off the land, build the new track and put $50 million in the bank."

Browell said the development of a site for a retirement village in Brisbane recently had convinced the club that its proposal, particularly the value of the land if sold for such a village, "could be a goer".

"It has just got bigger and bigger," he said.

He said the Valley's status as the most cramped track in Melbourne would change under the radical proposal.

"By altering the track, you really change it a great deal, with a great run home," he said. "You'd still have the Cox Plate start at the top of the straight. It would be a really nice track."

Browell said there were two possible scenarios for the Valley, the other being to keep the track and facilities as they are but introduce a $3 million capital-works program.

That would include a complete overhaul of the StrathAyr track, which has exceeded its 15-year use-by date.

Browell queried whether there was merit in the Victoria Racing Club merging with the MVRC. It is believed the impending Maxsted Report will recommend the merger.

Browell said the Valley should retain its separate club status if it could prove itself profitable in the next few years.

A meeting of club chairmen on Friday will discuss the merger issue.