The Australian racing industry has been stunned by a proposal to sell off one of its most famous tracks.
Rosehill Gardens in Sydney, home of the iconic Golden Slipper, could be sold in the next five years with the site developed with up to 25,000 new homes.
That could net the Australian Turf Club up to A$5 billion, some of which will be used to improve Sydney’s other tracks at Canterbury, Warwick Farm and Randwick as well as build a new training centre at Horsley Park.
The ATC will investigate sites across Sydney that could be used to develop a new racecourse if that is deemed needed.
The sale and development comes in association with the NSW State Government as they look to ease the Sydney housing shortage and will ultimately require state government approval on many levels.