Unique chance to invest in Australia’s newest motorsport precinct
Published on 24 August 2018
Mildura Rural City Council is inviting investors or organisations to be part of what promises to be one of Australia’s most exciting new motorsport precincts.
The Mildura Motorsports and Community Precinct (MMCP) is planned for a 557-hectare plot of land close to Mildura’s city centre, known as Block H at Koorlong.
The first stage of the precinct will include a three-kilometre bitumen race circuit, multi-use skid pan, pits, control tower and office facilities among a raft of services and infrastructure.
Supported by Australian motorsport’s peak body, the Confederation of Australian Motor Sport (CAMS), it will serve as a national hub for a diverse range of motorsports including off-road car and motorcycle racing, circuit car and motorcycle racing, karts and jet boats.
Business Case economic modelling estimates an operating revenue in excess of $23 million, and an operating surplus of nearly $8 million over 30 years (at net present value). On top of this the project could generate 324 jobs and $162 million benefit over 30 years to the regional economy.
It’s envisaged the facility will be in use year-round, including by the numerous car and motorcycle clubs across the country as well as potential for car manufacturers to conduct testing.
Ideally located just a few kilometres from Victoria’s largest and busiest regional airport, the Mildura Motorsports and Community Precinct would be set in the centre of a tri-state region boasting a 400-kilometre population radius of more than two million people.
The $22 million first stage is ready to be developed but requires private and additional government funding to become a reality. A comprehensive Business Case and Investment Prospectus have been completed, detailing the exhaustive research and study that has gone into this project, as well as outlining several financially viable operating scenarios.
Mildura Rural City Council is now seeking expressions of interest (EOI) from individuals, groups or businesses keen to invest in this exciting initiative. Varying amounts and investment models will be considered and Council is flexible and open to a broad range of business and partnership options to deliver this exciting project.
EOIs open today and will be taken until 21 September, after which they will be evaluated and potential investors contacted for more detailed proposals.
Mildura Mayor Mark Eckel encouraged investors to come forward.
“This really is an exciting business and investment opportunity, even if your group or business doesn’t have links or an interest in motorsport,” Cr Eckel.
“The exhaustive research that has gone into the business case and investment prospectus, both of which have been endorsed by Australian motorsport’s peak body, the Confederation of Australian Motor Sport, speaks for itself and the figures stack up.
“This exciting, high-profile precinct will also have a significant and lasting impact on our region for decades to come.”
EOI documentation, as well as the MMCP Business Case and Investment Prospectus are available online at www.mildura.vic.gov.au/motorsports.
For more information contact Kate Henschke on (03) 5018 8100.
p) (03) 5018 8689