As the finishing touches are made to the $160 million redevelopment of Royal Randwick racecourse, the Australian Turf Club (ATC) yesterday took possession of its landmark grandstand as it prepares for the launch of the 2013 Spring Carnival.

The new six-level grandstand at Royal Randwick is set become one of Sydney’s prime racing and entertainment venues, catering for major race days as well as large corporate and social events with free WiFi throughout the venue and the largest LED screen in the Southern Hemisphere.

“This is an important milestone in the history of Sydney racing,” ATC chief executive, Darren Pearce said.

“There has not been a major sporting facility of this scale built since the 2000 Olympics and this is what Sydney racing fans and the wider community have been looking forward to for many years,” he said.

Levels two and three of the grandstand were unveiled yesterday, including a state-of-the-art ballroom with room to seat 1000 guests in a banquet set-up and sweeping views across Royal Randwick racecourse.

Six major corporate events have already been booked for the ballroom in coming months, while corporate boxes across two levels are already sold out (purchased three years in advance) and the prestigious Chairman’s Club lounge is already 80 per cent sold for the next 12 months.

Members, corporate guests and the public will be able to use the newly opened floors from August 10 with the running of the McGrath Missile Stakes on an eight-race card at Royal Randwick.

The ATC expects the grandstand to be fully operational in the coming weeks, just in time for the 2013 spring racing season.

ATC chairman John Cornish said the grandstand’s construction and fit-out is of the highest standards.

“This is destined to be one of the seven wonders of the racing world and we’ve modelled the design on world’s best practice.

“The ability to see the horses is better here than at Ascot and not even Singapore has a grandstand as elaborate as this,” he said.

Click here to view video footage of Royal Randwick’s redevelopment.