The final chapter in a piece of Australian racing history is nearing completion.
Owner David Hayes has confirmed the world-famous Lindsay Park property at Angaston, once visited by the Queen, is under contract.
Hayes said the sale would be completed in April or May next year.
“I am not at liberty to reveal who has bought the property or the sale price,” Hayes said.
It is understood an Australian pastoralist has negotiated the purchase subject to the sale of another property.
A figure of $10million-plus has been reported for Lindsay Park which is short of the $14million mentioned when the property was placed on the market.
“I believe the new owner has made the decision as a potential lifestyle investment,” Hayes said.
“I’m pleased that the sale is nearing completion, but can’t believe it has taken nearly two-and-a-half years to sell.”
Hayes made the decision to sell the Lindsay Park Stud and racing operation when he made a career decision to start his own Lindsay Park at Euroa in Victoria.
“As purely a racehorse trainer I believe it was important for my stable to be based in Euroa where it is easy to travel horses to Sydney and Melbourne for the bigger stakemoney which they need to win for my business to remain viable.
“I’m not sad about the sale, but relieved, because I have been on bridging finance to build the setup at Euroa which is now complete.
“It is like anyone. You have a house which you love but you sell and move to a new place which you love, perhaps even more.”
What has been sold is 1550 acres of rolling pastoral country dotted with soaring, statuesque red gums and an infrastructure to house, train and breed racehorses.
The historic sale includes a 19th century, 38-room three-level homestead and comes only months after the death of Hayes matriarch and mother of David, Betty Hayes, who lived in a house on part of the property now leased by her grandson Sam Hayes for his Cornerstone Stud.
Sam Hayes, a son of the late Peter Hayes, David’s older brother, will continue to operate Cornerstone with the permission of the new owners, who will honour his lease signed with David until 2016.
“I can’t wait to meet the new owner and discuss our future but ideally I hope Cornerstone Stud can stay where we are into the future,” Sam said.
The sale completes an incredible chapter in Australian racing starting in July, 1965 when the late Colin Hayes, David’s father, purchased the property from Sir Keith Angas. Under Hayes’ guidance through the 1970s to the 90s, Lindsay Park was Australia’s leading stud and racing operation.
Colin Hayes passed away in 1999 and David inherited the property and bought out his siblings on returning from a training sojourn in Hong Kong in 2005.
He decided for his own business to create a new Lindsay Park at Euroa and placed the Angaston property on the market.
Former employee Tony McEvoy and his business partner Wayne Mitchell purchased the Raceside complex in 2010 which now operates as Kildalton Park but it has taken until now to sell the remainder of Lindsay Park.