Eliza Park still for sale

Xavier Duff |  June 19, 2013

Top notch: Prestige Thoroughbred stud Eliza Park at Kerrie owned by the Fleming Group went into receivership last week. Black Caviar’s sire, Bel Esprit (inset), stood at Eliza Park.

THE sale of Thoroughbred stud Eliza Park will go ahead despite its owners being placed in the hands of receivers.

The Fleming Group, owned by racing identity Lee Fleming, went into receivership last week as a deal to sell Eliza Park, one of Victoria’s biggest Thoroughbred studs and home to Black Caviar’s sire, Bel Esprit, was reportedly being finalised.

Mark Webster, managing director of selling agent Inglis, said it would not affect the sale and negotiations with the likely buyer were continuing.

Mr Webster said he would not comment on how the placement into receivership might affect the final sale price and if the receivers would accept a different price.

“We have signed a heads of agreement and currently we are doing due diligence,” he said.

Eliza Park was a profitable, going concern, he said.

The stud’s owners were originally hoping for more than $20 million for the stud which includes the 171ha headquarters at Kerrie in central Victoria, five other leased properties in Victoria and Queensland and various shareholdings in the stud’s 13 stallions.

Receivers PPB Advisory has put up 26 horses owned by Mr Fleming into Inglis’s Australian Weanling and Bloodstock Sale in Sydney on June 24-25.