Racecourse under the hammer

The Arlington Racecourse in Nelson Mandela Bay is to be auctioned off this Friday. Photo:Facebook

Eight years after closing its doors to horseracing fans across the metro, the world-renowned Arlington Racecourse in Nelson Mandela Bay will be going on auction this Friday, April 23.

The property, primed as a once-in-a-lifetime opportunity, consists of a massive 62 hectares of land, ready for development.

The property came up for auction after its owner, Phumelela Gaming and Leisure Limited, applied for business rescue in May 2020.

According to a media statement, the company had been experiencing adverse and economic trading conditions for some time before applying for business rescue last year.

“The effect thereof has been exacerbated by the nationwide lockdown resulting from the COVID-19 pandemic,” the statement read.

“Since the lockdown came into effect on March 26, 2020, the South African horseracing industry has not been able to stage race meetings, retail betting outlets have been forced to close and the company has been unable to generate sufficient revenue from its horseracing or betting operations,” the statement reads further.

The company subsequently appointed John Evans as their business rescue practitioner and applied to the JSE Limited for the suspension of trading in the company’s shares on the JSE.

Broll Auctions and Sales, the company that will be handling the auction, described the property as: “An incredible location, adjacent to the popular Walmer Heights suburb, in a beautiful setting, with easy access from Victoria Drive or Glendore Road.”

According to Broll, the property is currently zoned “Open Space 2” with permission for a place of entertainment and/or place of assembly.

“An application was submitted and received to rezone from undetermined to special purposes for residential units. All buildings and land are currently vacant. The owning entities are in business rescue and the subject erven and existing structures are being sold ‘voetstoots’, as-is,” Broll said.

Arlington Racecourse, previously known as the St Andrews Racing Club, was opened on December, 23, 1950, by then mayor, JCK “Boet” Erasmus.