Moonee Valley Racecourse to be diced as downsize becomes real
EXCLUSIVE
Hamton and Hostplus are readying to build a road which will slice off what has for 140 years been the western portion of the Moonee Valley Racecourse.
The developer and super giant with the Moonee Valley Racing Club have already developed much of the soon-to-be-annexed 7.6 hectare area bound by Thomas and Dean streets, Feehan Avenue and the track, with a mix of townhouses and apartments.
The proposed thoroughfare, introduced in a local council meeting this week, will extend south from the kink at the bottom of Thomas St, near Moonee Valley Legends, to Dean St, between McNae and Stuart.
A traffic light is earmarked for Dean St, an extension of Puckle St, the retail heart of Moonee Ponds, a major metropolitan activity centre.
MVRC started selling down the racecourse five years ago – beginning with a childcare investment at the north east corner of Feehan Ave and Thomas St, which collected $6.6m.
That timing proved lucky, with that buyer offloading it in late 2022, for $6.455m.
Last week, we reported Charter Hall sold an office in this pocket, the former Foxtel headquarters (story continues below).
More cranes set for racetrack site
It was in 2017, Moonee Valley Racing Club appointed ISPT, Hamton and Hostplus as joint venture partners to develop surplus racecourse land; the area has since been branded Moonee Valley Park.
Longer term, the club intends to realign the track; interestingly, the proposed road will abut its eastern edge, potentially more easily paving the way for future private/partnership development.
A new seating stadium (artist’s impression, top) is also set for the northern boundary, along Wilson Street, opposite Moonee Ponds Primary School.
More apartments are also mooted for portions at the corner of Dean and Feehan – known as the Cox Plate zone – and facing the Tullamarine Freeway, near the Wilson St overpass to Victoria St.
Moonee Ponds is six kilometres north west of Melbourne’s CBD.
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