rosehill racecourse sale

Rosehill Racecourse Stays Put: ATC Members Reject $5 Billion Sale

The fate of Rosehill Gardens Racecourse in Sydney's west has been decided, with Australian Turf Club (ATC) members voting against a $5 billion proposal to sell the land to the NSW Government. This decision, made on Tuesday, May 27, 2025, brings an end to a 17-month saga that involved significant debate about the future of the racecourse and the potential for a large-scale residential development.

What Happened? The Vote That Rocked Rosehill

After months of speculation and deliberation, approximately 11,000 ATC members cast their votes on the proposed sale. The outcome? A decisive "no," with 56.1 per cent of ballots rejecting the offer. This vote effectively cancels plans to build 25,000 new homes and a metro station on the site, a project touted as a major boost for Sydney's housing supply and infrastructure.

Why Does This Matter? More Than Just a Racetrack

The decision to retain Rosehill Gardens Racecourse has far-reaching implications. It's not just about horse racing; it's about urban planning, housing affordability, and the preservation of green space in a rapidly growing city. The proposed development promised to deliver much-needed housing, but it also sparked concerns about overdevelopment and the loss of a significant recreational and historical site.

Recent Updates: A Timeline of Key Events

• Early 2024: Initial discussions about the potential sale of Rosehill Gardens Racecourse emerge.
• Mid-2024: The NSW Government proposes a $5 billion deal to purchase the land for a large-scale residential development.
• Late 2024 - Early 2025: Debate intensifies, with stakeholders weighing the benefits of increased housing against the potential loss of the racecourse. A parliamentary inquiry examines the proposal.
• May 26, 2025: D-Day arrives as ATC members prepare to vote on the future of Rosehill.
• May 27, 2025: ATC members vote against the sale, bringing the 17-month saga to a close.

The Backstory: A History of Racing at Rosehill

Rosehill Gardens Racecourse has a rich history dating back to 1885. It has long been a prominent venue for horse racing in Sydney, hosting prestigious events like the Golden Slipper. The racecourse is not just a sporting venue; it's a cultural landmark with deep roots in the local community. The Australian Turf Club, which manages Rosehill, is one of the most influential bodies in Australian racing.

Stakeholders and Their Positions: A Clash of Interests

The proposed sale of Rosehill Gardens Racecourse involved a complex web of stakeholders, each with their own interests and perspectives:

• NSW Government: Aimed to address Sydney's housing shortage by developing the site into a residential area.
• Australian Turf Club (ATC): Faced a difficult decision, weighing the financial benefits of the sale against the historical and cultural significance of the racecourse.
• ATC Members: Ultimately decided the fate of Rosehill through their vote.
• Racing NSW: The governing body for racing in New South Wales, had a vested interest in the outcome due to potential financial implications for the industry.
• Local Community: Divided, with some supporting the development and others advocating for the preservation of the racecourse.

The Immediate Effects: What Changes Now?

The immediate effect of the "no" vote is that Rosehill Gardens Racecourse will remain in the hands of the Australian Turf Club. The plans for 25,000 new homes and a metro station on the site are now off the table. The ATC can now focus on continuing its racing operations and potentially exploring other development opportunities on the land that align with its core mission.

The Financial Implications: What About the Debt?

The ATC has previously stated that selling Rosehill would trigger the repayment of $50 million in loans to Racing NSW. With the sale now rejected, the ATC will need to find alternative ways to manage its finances and potentially renegotiate its debt obligations.

The Future Outlook: What's Next for Rosehill?

While the immediate future of Rosehill Gardens Racecourse is secure, the long-term outlook remains uncertain. The ATC will need to develop a sustainable business plan that ensures the racecourse remains viable in the face of increasing competition and changing consumer preferences.

Here are some potential scenarios:

• Continued Racing Operations: The ATC could focus on enhancing the racing experience at Rosehill, attracting more visitors and increasing revenue.
• Limited Development: The ATC could explore smaller-scale development opportunities on the land that do not involve selling the entire site. This could include building new facilities or expanding existing ones.
• Partnerships: The ATC could partner with other organizations to develop new revenue streams and enhance the overall appeal of Rosehill.

Unverified Claims and Speculations: Proceed with Caution

While the core facts of the Rosehill sale vote are well-established, some unverified claims and speculations have emerged. For example, some sources suggest that bankers from Barrenjoey made a last-ditch appeal to ATC members to support the sale. However, these claims have not been independently verified and should be treated with caution.

Sydney Misses Out: The Housing Debate Continues

With the Rosehill development now off the table, Sydney has missed out on the potential for 25,000 new homes. This comes at a time when housing affordability is a major concern for many Australians. The decision to reject the sale of Rosehill will likely fuel further debate about the best way to address Sydney's housing shortage.

The Final Verdict: A Win for Tradition, a Loss for Development?

The decision to retain Rosehill Gardens Racecourse is a victory for those who value tradition and the preservation of green space. However, it also represents a lost opportunity to address Sydney's housing shortage and create a new urban hub in the city's west. The future of Rosehill will depend on the ATC's ability to adapt to changing circumstances and develop a sustainable business plan that ensures the racecourse remains a vibrant part of the Sydney community for years to come. Only time will tell if the decision to reject the $5 billion sale was the right one for Rosehill, for Sydney, and for the future of Australian horse racing.