FORMER Toll Holdings chairman, Peter Rowsthorn, is selling his thoroughbred horse racing property, Wadham Park Nagambie, in central Victoria.
According to The Australian Financial Review, the move comes after Queensland Racing reneged on a deal to acquire Mr Rowsthorn's Gold Coast horse facility, also named Wadham Park, for $20 million.
The deal reportedly fell over after Queensland Racing struggled to gain Council approval for a planned increase in the stabling capacity from 200 horses to 800.Wadham Park head trainer and part-owner Dale Sutton said the failed transaction had forced the Victorian sale, proceeds of which will be redirected into Wadham Park's other facilities.
“We will be looking to consolidate back into our two properties at Tylden (Central Victoria)," he said.
