- This topic has 15 replies, 12 voices, and was last updated 18 years, 3 months ago by
.
- Posts
Greg Wood in the Guardian today writes a doom-laden article about the likely takeover of Newbury racecourse by what are effectively property developers.
When they talk about "racing continuing for the foreseeable furture", what they really mean is "we intend to close the track and build on it".
John Porter will soon be turning in his grave, I fear.
Here’s a link to the article…
It would be a bloody outrage if Newbury was to be sold off for housing as it is one of the best racecourses in the country and is a great place to go racing.
Why cant someone like Jockey Club Racecoures or at a very desperate pinch Northern or Arena take over to run this jewel in the crown of British Racing.
Not many dual purpouse racecourses can have trials for the 1000,2000gns,Champion Chase and Gold Cup in their portfolio.
Newbury must not be given to housing its as simple as that
The one glimmer of hope is stories like this have been circulating as long as I can remember and, so far, they have never come to fruition.
I lived near Newbury for a couple of years in the late 80’s and I can recall similar serious worries then.
Let us hope this is just another scare.
However if there is some substance to the story then I would agree with Neil’s suggestion that JC Racecourses pitch in and save it.
Lydia highlighted this in the Times a few weeks back too. It has to be a concern, but i sense that the lobby to stop this would be too influencial. From the towns point of view, it would lose its one real attraction and would affect local businesses too
Its a great course. Unthinkable ….
The hostile bid from Guinness Peat Group, who already hold a significant amount of shares, makes the track worth around £40M.
No idea what it would be worth as building land, but there is still a lot of land around the course itself owned by Newbury that could be developed without losing the racecourse.
But given the problems of road access that anyone who has been to Newbury will know about, the fact that the land on the other side of the railway line is light industrial units, it seems unlikely that the local authority would grant planning permission for housing. Of course they can be overruled by the government!
I can’t see any way Jockey Club Racecourses could raise the money to make a bid – no chance of the Levy Board doling out the necessary in the current climate either.
The course shows plenty of signs that money for investment is limited – there are still large areas of derelict building to the rear of the stands that have been mostly unused for as long as I can remember. They also spent plenty on a row of hospitality boxes alongside the pre-parade ring that seem to be full only twice each year. And the standard of racing away from their big meetings has declined as well, with £5k 0-75 handicaps now common and no shortage of other handicaps run for the minimum allowed.
I don’t know what long term plans GPG might have, but I wouldn’t argue with their assertion that the place needs a management shake up.
AP
Hi
The chances of getting planning permission for the complete site are very low to nil.The government would not overturn because building would not comply with current policy.However there may be land available within the site that could possibly be used for building purposes. Hopefully it finally scotch all chances of yet another AW trackJust read on the teletext that the takeover bid has failed and that they can’t try again for at least a year
LONDON (Reuters) – Newbury Racecourse’s top shareholder, Guinness Peat Group , failed in its hostile takeover bid on Tuesday, after fellow shareholders failed to back its 34.6 million pound offer.
Newbury, home to steeplechasing’s Hennessy Cognac Gold Cup and the Juddmonte Lockinge Stakes flat race, twice rejected bids from GPG which has built up over a 27 percent stake.
GPG went hostile with its bid but failed to get the necessary 50 percent backing from shareholders after only 5.55 percent of the other shareholders accepted its offer.
GPG has complained that Newbury management is planning to sell off 50 acres of the racecourse to a housing developer on the cheap and has called for the plans to be put to shareholders as well as for greater representation on the racecourse’s board.
Given the margin of failure, i would be suprised if they bother coming back
Great news.
That’s the hope, Clive!
But as has been mentioned already, for pity’s sake, Newbury, do get in some people / stakeholders willing to lob a bit more money at the place! The rotting buildings near the front have little place on a Graded course, and I also wonder if permission could be sought to convert at least some of the exisiting – and on big racedays barely adequate – parking space to a multi-storey.
gc
Jeremy Grayson. Son of immigrant. Adoptive father of two. Metadata librarian. Freelance point-to-point / horse racing writer, analyst and commentator wonk. Loves music, buses, cats, the BBC Micro, ale. Advocate of CBT, PACE and therapeutic parenting. Aspergers.
I’m not Newbury’s biggest fan – Its grey, industrial and not a patch on the other grade 1 tracks i’ve been to. I wouldn’t want to see it go though.
I’m not Newbury’s biggest fan – Its grey, industrial and not a patch on the other grade 1 tracks i’ve been to. I wouldn’t want to see it go though.
That’s right, but the racing’s nearly always fascinating
I’ve lost count of the number of great horses (Flat & NH) who’ve come out of maidens/novice hurdles. Proximity to Lambourn helps but also a fair, galloping track.
- You must be logged in to reply to this topic.