Malcolm Gillies, the developer behind the project has said that with interest rates high, and business confidence low, there was no money to be made. Times have changed since the idea was first put forward.

Mayor Wayne Guppy, who is president of the racing club, says that he has not spoken to Malcolm Gillies, but he is optimistic that even if this plan hasn’t gone ahead, development will still go ahead, even if it was “plan B or C”. He says that the racing club needs facilities and he was confident that something would go on the site.

As for the demolition of the grandstand which is currently underway, the club had no choice but to have it demolished, says Mayor Wayne Guppy. The grandstand was only 8-12% of the new building standard and was riddled with asbestos.

Racing Trentham chief executive Tim Savell’s short term focus is to have the grandstand demolished and to prepare the site for Wellington Cup Day which is in January. He has also said that Kainga Ora (Housing New Zealand) was involved with the original plan, but with them pulling out of many projects recently, this could have also affected Malcolm Gillies’ decision.

A positive of having the grandstand demolished and no plans to develop at the time being means that the Wellington Cup can continue to be held at Trentham Racecourse. If development was still proceeding it would have to be shifted to Palmerston North for a couple of years.

Source: The Post

03/10/24