Queensland racing proposed redevelopment

The project still faces significant hurdles but Racing Queensland has approached the Brisbane City Council and begun exploring plans for the prime Albion venue, which has hosted races for more than 120 years.

RQ chief executive officer Eliot Forbes said the potential development was needed to generate significant non-racing revenue to prop up the struggling sport.

“The options include possible commercial, residential and retail developments all geared to deliver a commercial return to RQ thereby protecting the balance sheet for racing into the future,” he said.

“The ongoing sustainability and growth of racing in Queensland depends on the generation of non-racing revenue and the full realisation of commercial opportunities.”

To realise the maximum financial gain from the site, the club has applied to the council for any development application to be considered under a superseded planning scheme.

“If Council agrees to allow an application under the old scheme and RQ lodges an application, significant community and stakeholder consultation will be undertaken to help inform the range of uses, design and development outcomes on the site,” Mr Forbes said.

The State Government would also need to approve any application and yesterday Racing Minister Grace Grace said no decisions about possible future uses of the site had been made.

“RQ has a fiduciary duty to protect the asset value of Albion Park and I’m confident they’re meeting this obligation,” she said.

“In line with this fiduciary duty and following recent changes to the local area plan, RQ has lodged a request for development application over this site under the superseded scheme.

“The sole purpose of this application is to protect the asset and maintain RQ’s balance sheet.

“RQ has met with Albion Park Harness Racing Club representatives to inform them of their actions.”

The Sunday Mail understands the club is strongly opposed to moving harness racing from the site however representatives failed yesterday to respond to a request for comment.

The fate of racing at Albion Park was sealed recently when the results of an independent study into the infrastructure needs of the two codes in southeast Queensland highlighted widespread dissatisfaction with the site.

The greyhound industry was nearly unanimous in its condemnation of Albion Park and the need to find new stand-alone venues for the sport with contemporary, single-turn tracks.

Harness industry participants in the study were not as united in the need to leave Albion Park and are still negotiating with RQ about their infrastructure needs.

But the move from Albion Park took a step forward yesterday when RQ launched an expression of interest process to identify suitable sites in Brisbane’s southern and western corridors for new greyhound and harness racing venues. It is understood the Gold Coast and Ipswich are the preferred locations for greyhound tracks.

The massive overhaul of facilities is part of RQ’s broader infrastructure program, which is being funded from the $63 million Racing Infrastructure Fund.

A further $61 million is expected to be injected into the fund before 2023 from a gambling agreement.

By Michael Wray, The Courier-Mail

Reprinted with permission of The Courier-Mail