The Ipswich Greyhound Racing Club has been a long-term tenant of the Ipswich Show Society.
For the past four decades, the Club has conducted greyhound racing at the Ipswich Showgrounds and boasts an existing lease which is due to expire on January 31, 2024.
With racing not expected to commence at The Q until the end of 2024, the Club has sought a 12-month extension of their existing lease, which Racing Queensland supports.
Earlier this week, the Show Society formally wrote to RQ and asked it to consider entering into a new lease arrangement at the Showgrounds, as distinct to the Club, under new commercial terms.
As part of the proposed terms, RQ would need to accept a significant rent increase, while also providing a one-off $12 million payment to redevelop the Showgrounds at the conclusion of the new lease.
While RQ wishes to see greyhound racing continue at the Showgrounds throughout 2024, its preference is for the lease arrangements to continue to be held between the Club and the Show Society, having previously negotiated and mutually accepted a $400,000 ‘make good’ payment as part of the current lease.
RQ has requested the Show Society resume lease negotiations with the Club, and if an appropriate agreement cannot be reached, it will explore alternate programming options throughout 2024 including reallocating race meetings to other venues.