Pheasant Wood Circuit, a Marulan landholding home to a Motorsport Australia licensed circuit, has just sold for about $11m.
The sold sticker has just gone up on a racing car circuit that hit the market last December. It’s gone for about $11m, $1m above the guide.
Owned by entrepreneur Steve Shelley, who co-founded the workforce management software company Deputy, Pheasant Wood Circuit, at 8 Prairie Oak Rd, Marulan near Goulburn, the track was being pitched as “perfect for the active family or group of friends” in the listing.
Biller Property principal Paul Biller, and his colleague Ben Torban, had been seeking offers above $10m in an expressions of interest campaign for the 60ha site, which is 3km off the Hume Highway.
When contacted, he confirmed the sale, but wouldn’t disclose the result, or the purchaser.
Other sources said it sold for $1m above the guide.
It’s not known who has purchased it.
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Sales agent Paul Biller, of Biller Property, confirmed the sale, but wouldn’t disclose the result.
The property came with a substantial four-bedroom family residence and a private guest cabin, ideal for VIP stays or short-stay tourism.
The race track has always been popular, from the minute it hit the market.
“It’s only been up for 24 hours and I’ve been smashed with inquiries,” Biller had said at the time of the listing.
“It’s going to suit car clubs, car enthusiasts, or someone running a business there.
“But it would also be a perfect family getaway … the kids can ride around the track on their dirt bikes or go-carts, plus they could go horse-riding and camping.”
It’s understood the buyer was there from the start, but negotiations regarding the finer details have continued, until the deal was finally done this week.
Records show Shelley, heir to the Shelley softdrink fortune but also wealthy in his own right with his company Deputy being valued at over $1bn, bought what was originally known as the Marulan Driver Training Centre for $1.5m in 2016, from Garry and Natalie Willmington, who’d set it up in 1992.
Deputy.com co-founder Steve Shelley. Source: Supplied
According to a report in Autoaction, Shelley renamed the site Pheasant Wood Circuit because his great grandfather, Herbert Bolt, whose nickname was Nutsy, was killed in World War 1 and was buried in a French military cemetery called Pheasant Wood.
He also spent $7m on turning the facility into a “world-class circuit”, upgrading the layout, safety and amenities, along with making it wider and longer.
The property came with a substantial four-bedroom family residence and a private guest cabin, ideal for VIP stays or short-stay tourism.
The property was formerly known as the Marulan Driver Training Centre.
Over the years it’s hosted a range of event, including endurance races such as “Deputy 6 Hour”; historic racing events for cars and motorbikes, and special interest events like the “Hatch Attack” series.
It’s not clear why Shelley decided to sell, though since he already owns another racetrack closer to Goulburn, One Raceway, perhaps one’s enough?
Shelley is also famous for having listed his extraordinary six-storey Sutherland Shire mansion, Nautilus Luxury Residence, on the shoreline at Burraneer Bay in 2021.
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