Kingston Park, the Mornington Peninsula stud where billionaire David Hains raised a string of winning thoroughbreds – including Australia’s first million dollar-winning racehorse, Kingston Town – is for sale and could fetch $60 million, based on the valuations of its 18 separate titles.
Rising interest rates have pushed down land values on the Mornington Peninsula. A Supreme Court of Victoria win last week– a deal that would cost much less now – he made at the peak of the lockdown-fuelled market in June 2021. “It was one of the most successful horse-breeding nurseries in the history of Australian racing,” said veteran race caller and syndicator Bryan Martin.
“People would stop and look, and you could hear them say how you could just tell he was a champion. But that one couldn’t run down a well.”