Avondale Jockey Club To Sell 9,700 Square Meter Parcel Of Land
The Avondale Jockey Club is selling a 9,700 square meter parcel of land "formerly used for stables and parking," according to Kelly Dennett of FAIRFAX NZ NEWS. The club "is hoping to recover some of the debt it is in after attempting to launch night racing" in '87. Building an additional stand and putting up lighting towers cost the club NZ$8M ($6.9M) but the venture was not "as successful as hoped" and still remains nearly $3M in the red. The club said that "the land could contain 28 terraced or semi-detached houses with an extended entrance from Sandy Lane." With the intensification opportunity and increasing Auckland land and property prices, Wakefield "is confident the sale will clear the remaining debt with some left over for refurbishments" (FAIRFAX NZ NEWS, 4/8).