Land Project Discussed

Dear Stakeholder

The land known as Riccarton Park Racecourse is vested in the Christchurch Racecourse Reserve Trustees (‘CRRT’) who in turn lease the majority but not all of the land to the Canterbury Jockey Club (‘CJC’).
With the permission of the CRRT and support of the CJC other Clubs such as Hororata Racing Club, Ashburton Racing Club and not so long ago the Reefton Jockey Club have at times raced at Riccarton Park.
Riccarton Park comprises 121 hectares and is a Racecourse Reserve which by its nature, and that of the Reserves Act under which it sits, imposed restrictions on its use and therefore its ability to generate income. Non traditional income streams are the life blood of the modern racecourse something that the CRRT identified and wished to explore to ensure that racing at Riccarton Park does not fall behind venues that do not have these restrictions.
In 2010 the CRRT embarked on a plan to make better use of areas of the land NOT leased to the CJC to enable them to make a bigger and better contribution to racing on the property.
The subsequent earthquakes opened a door with Government to allow this to happen and resulted in a process that has permitted the free-holding and sale of portions of the reserve, approximately 40 hectares, which Government required be used for housing.
The land sold by the CRRT is land that in the main was not leased to the CJC and therefore much of it was not used directly for racing purposes.
The remaining land, which has always been leased to the CJC remains as a Racecourse Reserve and as such the ownership remains vested in the CRRT for the purposes of racing.
The CRRT will continue to lease all the remaining land to the CJC.
Can the remaining land be sold? No – the racecourse, training stables, visitors stables, enclosure, grandstands, etc remain on Racecourse Reserve Land and as such cannot be sold.
This land will remain for use as racing, training, trialling, stabling and other purposes consistent with racing.
The sole mandate of the CRRT is promote, enhance and develop racing here at Riccarton Park.
As such value that the CRRT can drive from the investing of the money they receive from the sale of the land will be used for racing purposes at Riccarton Park.
This will enable the CRRT to make a significantly greater contribution than they have historically been able to do and could otherwise have done in the future.
Both the CRRT and CJC view the very successful Riccarton Rotary Sunday Market as remaining on site and rumours that it is to be closed are completely wrong with the CJC, in fact, actively pursuing options to ensure its long term continuation at Riccarton Park.
The first stage in the north-west corner is likely to commence from 1 August 2017.

If you have any queries or require any further information please do not hesitate to contact me or Tim Mills the Secretary of the Christchurch Racecourse Reserve Trustees.

Yours sincerely

Peter Cordner Jeff McCall

CHAIRMAN, CHRISTCHURCH RACECOURSE RESERVE TRUSTEES CHAIRMAN, CANTERBURY JOCKEY CLUB