Phillip Island Changes Hands, Take 437

....and cue the whingeing track, nice and early.

http://www.abc.net.au/news/newsitems/s1052652.htm

 

5 Star Hotel for PI GP Circuit

http://www.heraldsun.news.com.au/common/story_page/0,5478,8782301%5E661,00.html

 

Speaking of which, isn't he actually supposed to be quite the hoon in his
spare time? I dimly remember something about him having a Ferrari
collection, or similar, and putting a fair bit of indirect sponsorship into
all manner of motorsport... I almost dare hope that, with him in charge, the
place will thrive.

What's funny, though, is locals like this woman bally-hooing about the noise
from bikes hooping around the track like they can't see what burying the
place under another few hundred holiday homes and their attendant backyard
piss-up punch-ups and groups of bored-out-of-their-skull wasted city brats
roaming Cowes at night on a regular basis would do to their precious peace
and quiet.

 

Not just Ferraris, cars in general. They were on public display a year or so
back. I think one of the reasons he bought the lease to Avalon Airfield was
because it had enough hangar space to house them all.

Nev..
'03 ZX12R
'02 CBR1100XX

 

X-No-archive: yes
Intact Kneeslider wrote in message ...
~

I wonder what it'd take to bring the track up to F1 specs?
I wonder if that's a secret agenda to get the F1 GP out of the middle of
town....
(Naah; that makes no sense. It'd make more sense to move the bike GP INTO
town!)
Clem

 

From a mailing list:
=====================
Phillip Island Sale
25feb04

JETSTAR ­ the new Qantas discount airline ­ will fly from Lindsay Fox's
Avalon airport.

In another coup yesterday, Mr Fox spent $10 million buying Phillip
Island's internationally famous grand prix circuit.

He will build a 163-room, five-star hotel at the track.

The Phillip Island purchase extends Mr Fox's Linfox empire, which
includes both Avalon and Essendon airports, a 4200-vehicle transport
arm, extensive warehousing assets, Armaguard and 9000 employees.

Mr Fox also owns a $15 million classic car collection, which he exhibits
at the Docklands.

There is speculation the collection could be moved to Phillip Island. Mr
Fox has been negotiating to buy the 309ha circuit site for 18 months.

The initial asking price was as high as $20 million, which soon proved
unrealistic.

A consortium has owned the Phillip Island circuit for 20 years.

Placetac Pty Ltd said it had agreed to sell the circuit to Linfox
Property Group, "subject to the resolution of some formalities".

Placetac said the sale included the track, a visitor centre, farmland
and the hotel site.

The Phillip Island circuit opened in 1956, the same year Mr Fox bought
his first truck.

The Australian Motorcycle Grand Prix, held each October, is contracted
at Phillip Island until 2006.

Grand Prix Corporation chairman Ron Walker said negotiations to extend
the contract would start next year.

The State Government would then decide if it would continue to
underwrite the event, which lost $6.9 million last financial year.

Bass Coast Shire chief executive Allan Bawden said a planning permit for
a five-star, beachfront hotel at the circuit was current.

Mr Bawden said it would be highly unlikely the site could ever be carved
up for housing.

Mr Fox last year reportedly bid $55 million for 90ha of former defence
land at Point Nepean. He had hoped to turn it into a family compound.
=========================



---
Cheers

PeterC [aka MildThing]
'81 Suzuki GS450-s
'87 BMW K100RT

www.dmcsc.org.au

 

The initial asking price was as high as $20 million, which soon proved

I would have thought that cheap....???

That aint good... Didnt realise that it ran at a loss? How long for?

We laying bets?

 

Actually as a person, I rate him highly, particularly on issues facing the
community.

Hammo

 

His "museum" is full of various cars. Jag XJ220 and XJ-15, various Porsches (including a rally
version), Mercedes galore (especially the SL's - he even has a gullwing or 2), Rolls Royces,
Bently's, Ferrari's, etc.

His warehouse has a complete workshop where the cars are fully restored and maintained, and his
mechanics are the only people outside Mercedes to have blueprints for the SL's. The body forming
buck and associtaed tools are very drool worthy.

 

I've never had to disagree with or argue with him. We were on the same
side, so, yes, it is hardly a fair reflection of how he behaves everyday to
everybody.

I often say the same things about Kennet too.

Hammo