Petrolhead’s paradise Marulan motorsport property sold in a deal $1m above expectations, with the buyer securing the 60ha circuit, residence and guest cabin
Pheasant Wood Circuit near Goulburn has been sold for about $11 million, roughly $1 million above its guide, after being offered to the market last December.
The 60ha property at 8 Prairie Oak Rd, Marulan, about 3km off the Hume Highway, is owned by entrepreneur Steve Shelley, co-founder of workforce management software company Deputy. In its campaign, the circuit was promoted as “perfect for the active family or group of friends”.
Biller Property principal Paul Biller and colleague Ben Torban had run an expressions of interest campaign seeking offers above $10 million. Biller confirmed the sale when contacted, but did not reveal the price achieved or the identity of the buyer. Other sources said the property sold for $1 million above the guide. It is not known who bought it.
Interest was immediate when the property first 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 is understood the eventual buyer had been involved from the outset, with negotiations over finer details continuing until the deal was completed this week.
The sale included a substantial four-bedroom family residence as well as a private guest cabin suited to VIP accommodation or short-stay tourism.
Records show Shelley bought the site, then known as the Marulan Driver Training Centre, for $1.5 million in 2016 from Garry and Natalie Willmington, who had established it in 1992.
Shelley is heir to the Shelley softdrink fortune, but is also wealthy in his own right. Deputy has been valued at more than $1 billion.
According to a report in Autoaction, Shelley renamed the property Pheasant Wood Circuit in memory of his great grandfather, Herbert Bolt, whose nickname was Nutsy. Bolt was killed in World War 1 and buried in a French military cemetery called Pheasant Wood.
Shelley also spent $7 million transforming the venue into a “world-class circuit”, with upgrades to the layout, safety and amenities, while also making the track wider and longer. It’s a world class circuit.
Over the years, the venue has hosted a range of events, including endurance races such as “Deputy 6 Hour”, historic racing meetings for cars and motorbikes, and special interest events including the “Hatch Attack” series.
Shelley also owns another racetrack closer to Goulburn, One Raceway.
