Pub baron puts ‘horse heaven’ lodge on the market for $30m
A little more than two years after buying one of the country’s top thoroughbred racehorse training properties, pub baron Bruce Dixon has put Macedon Lodge, north of Melbourne, back on the market for more than $30 million.
If he were to achieve that price, it would represent a tidy return for the former Spotless Group chief executive who paid legendary racing figure and developer Lloyd Williams $20 million for the 120-hectare property – dubbed “horse heaven” – in July 2022.
While the Williams family had used Macedon Lodge as a private training facility, where they produced Melbourne Cup and group 1 winners, Mr Dixon’s strategy was to open the property as a commercial centre for up to four trainers and expand its offerings.
Speaking to The Australian Financial in January last year, he said he was “not much of a gambler” but instead saw an opportunity to help set up a profitable business.
“I’ve added value as much as I can – we’ve got a new permit for 120 [horse] boxes – but I think it’s better suited in the hands of a horse person, which I am not,” he told the Financial Review last week.
“It’s got the permits for expansion and is ready for the next person to take it on.”
Despite his short tenure, Mr Dixon said he had loved owning Macedon Lodge and working with “great people” such as champion trainer Chris Waller.
Since Kurt Stern developed it in the late 1990s, Macedon Lodge has produced more than 30 group 1 winners, the first being Ethereal which took out the Caulfield-Melbourne Cup double in 2001.
Macedon Lodge executive chairman Mark Players called the facility “one of the best horse properties in the world”.
“The property is still producing and delivering group 1 winners, which is what it’s here to do,” he said
Facilities at Macedon Lodge include a 1500-metre Uphill Martin Collins Polytrack, a 1000-metre fibre sand track, an 80-metre swimming pool, treadmills, a water walker, horse spas, horse solarium, dry walkers, vets and blacksmiths, day yards and small, medium and large paddocks.
Nick Myer and Henry Mackinnon from Elders are handling the sale of Macedon Lodge.
“Based on the significant level of investment already committed, in addition to the growing industry demand for the facility and projected revenue, we’re expecting to receive interest in excess of $30 million,” said Mr Myer.
