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Property Update

The Auckland Racing Club is currently going through the process of applying to rezone some of its land which is now surplus to racing requirements. This is known as Private Plan Change 168 and was publicly notified on June 7th, 2009.

  • To read the two questions raised from Public Meeting, please click here.
  • To read the official press release please click here
  • To read the Auckland Racing Club Members' update please click here.


Below are images of the area of land referred to in the Private Plan Change 168. Please note that the 2400m chute will NOT be affected at all by any proposed development of this land. The Club have also ensured that a full line of site exists from all areas of the Ellerslie Stand and any proposed development will not effect views of the racecourse.

Area as part of overall Racecourse (refer Plan Change 168)
Proposed roading (white) and development areas (grey)

Concept Diagram (no building will be forward of sightline or across 2400m chute)



 Two questions raised from the Public Meeting

Stone walls
The question related to the Club’s intentions to rebuild the existing stone wall on the new boundary adjacent to the proposed new roundabout.

The position is as follows:

There are three areas in which portions of existing stone walls will be removed:

  • A small opening on Morrin Street opposite Kentucky Street.
  • A short length near the existing entry of Morrin Street close to the Montessori School.
  • A larger section to allow for the new road and roundabout.

 
The Club’s heritage report concludes that the removal of these sections of stone wall is acceptable and the Plan Change itself contains controls on the removal of the stone walls:

  • The Club must make an application for a resource consent to remove any part of the stone walls.
  • The Plan Change provides criteria against which the Council must consider the application.
  • One of those criteria is whether the stones to be removed are to be reused to form ‘wall returns or gateways’ in the vicinity.  Another is that, in the case of walls to be removed in the vicinity of the Mitchelson Street/Morrin Street intersection, adequate sight lines for traffic are maintained.

 
Rebuilding the wall is a possible outcome but whether or not it proves feasible or desirable will depend on the factors outlined above amongst other.

Maximum heights/storeys of buildings
The question was why, if a 3 metre floor to floor height is assumed, there will be an extra 2 metres of height for each building.

The reason for this is to encourage good urban and architectural design and enable the relevant design controls and criteria in the plan change to be achieved. 

The extra 2 metres allows a designer flexibility to accommodate the following:

  • The lowest floor level may be above the natural ground level by, say, 0.5 of a metre.
  • The lowest floor or first floor may have a greater floor to floor height.
  • Variation in the height of roof top designs, including gables, parapets etc.


The extra 2 metres covers these possibilities but is insufficient to allow the creation of an extra floor.

Why rezone this land?

Without exception, Racing Clubs throughout New Zealand face challenges to remain financially viable. The historical reliance on commission earned from betting revenues is under pressure. Once upon a time, racing enjoyed a monopoly gaming proposition yet now it is fourth in a four horse race behind poker machines, Lotto and casinos. Betting on horse racing also now faces new competition with the development of internet-based corporate bookmakers.

While we at the Auckland Racing Club have a highly successful event centre, the current economic pressures are proof that this is not something that can be solely relied upon to provide us auxiliary income. Like most Racing Clubs in New Zealand, we face the scenario whereby we are asset rich and cash poor.

To ensure that we continue to host racing to the highest level into the future and remain New Zealand's premier racing venue, we have identified portions of our property that are surplus to our core racing activity. We are looking to maximize the potential to generate a multimillion-dollar leasehold income stream from this surplus land, whilst at the same time retaining ownership of all the land.

Racing is a $1.5 billion industry which employs over 40,000 people, all of whom rely on stake money in order to derive a significant portion of their income. 20% of all stakes paid in New Zealand’s Thoroughbred Racing industry are paid by the Auckland Racing Club and are generated from less than 8% of the industry’s licenses. It goes without saying that the industry relies on a strong Auckland Racing Club to continue to operate successfully.

Aside from the level of stakes paid, all Racing Clubs in New Zealand face the issue of having a capital-hungry business. The requirement to continually upgrade facilities is ever-present. Whether this is the renovation of grandstands, rebuilding a world-class racing surface or upgrading stables, all these projects require a Racing Club to have capital to invest.

Our rezoning project of area 168, when combined with the successfully completed and leased area 167, will provide us with the financial resources to continue to successfully operate into the next Century.