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$100m+ Price Tag On Inglis Randwick Site

Wednesday, 2nd September 2009

Following Monday's surprise announcement that Inglis will "purchase 9.5 hectares of land from the Australian Jockey Club at Warwick Farm" on which the thoroughbred auction company "has developed plans to build a state-of-the-art giant covered sale ring with bars, restaurants & stables for up to 1,000 horses", managing director Mark Webster confirmed to The Australian Financial Review yesterday: "We've had a couple of interested parties on the phone" (inquiring about the potential sale of the firm's current Randwick premises). However Webster noted Inglis would "only consider offers of $100 million-plus" emphasising: "We occupy 11 acres. I don't think there would be any other site similar in size & proximity to the city, apart from maybe Harold Park (paceway)." And Webster "clarified that the Newmarket complex at Randwick would be sold only after Liverpool Council passed a development application allowing Inglis to build its new headquarters at Warwick Farm."

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