Work on a new multi-purpose motorsport facility dubbed Stratford Park in New Zealand’s north island is about to begin.

The project is a joint venture between the Taranaki Motorsport Facility Trust and the Stratford A&P Association.

The facility will cater to two types of horsepower with car racing and drag racing to join a new speedway alongside a redeveloped equestrian centre.

A new circuit totaling 2.7km is set to be built, which will use 200 walls taken from the recently disassembled Pukekohe Park south of Auckland.

It will be the third different circuit those walls have been used for after first being used for the Hamilton street circuit from 2008 to 2012.

Life-time advertising space is already being sold on the walls in an effort to raise capital on the new venue.

A museum is also part of the proposed development as well as a skid pan, which will be used for driver training, drifting, and as a car park.

A gravel sprint circuit is already being used by the Taranaki and South Taranaki car clubs but plans are also afoot for a 2.1km rally stage.

The facility isn’t too dissimilar to the nearby Manfeild events centre, which has a race track and show grounds for equestrian and agriculture.

The new facility is located in Stratford in the central north island, about five hours from Auckland and four hours from Wellington.

Stratford Park, which was first mooted in 2016, is set to cost $68 million ($75 million NZD) over the next decade.

That figure also takes into account a redeveloped equestrian centre, driver training, education hub, and concert facilities.

A new show ground would replace the existing Stratford Speedway. A new oval would be built adjacent to the 2.7km circuit and drag strip.

According to the Taranaki Daily News, work on a new entrance is set to begin in the coming weeks.

That’s thanks to a $90,000 ($97,000 NZD) grant from the Taranaki Electricity Trust (TET), which covers power installation, an entranceway, car park, ablution block, and new offices.

“This grant from the TET is like the first spade in the ground to get the motor sports facilities underway,” said project manager Tracey Blake.

“It’s really exciting. We are in talks at the moment with groups wishing to set up driver training and other businesses on site.”

The project is still seeking funding for the development of two all-weather equestrian arenas.