The former Toll Holdings chairman sold Wadham Park near the Gold Coast, to Queensland Racing Limited, according to an article in today’s Australian Financial Review. The 66 hectare property includes four racing tracks.
The sale is part of a strategy by Mr Rowsthorn to divest of Queensland assets, and focus on Victorian properties.
QRL plans to develop a jocket academy at the new site. It also ownes a racecourse in Queensland’s Eagle Farm.
"QRL will develop a five year plan to fully develop this facility and will provide Queensland with a training centre equivalent to wha is currently enjoyed by the Victorian Racing Industry," QRL chairman Bob Bentley said.
"The capacity is about 200 horses now. Our intention is to increase it to about 800."
Late last year, a large block of land in the ritzy Melbourne suburb of Toorak, once owned by Mr Rowswthorn, sold for about $11 million.