Brisbane, Queensland -  After a six year saga, on Tuesday 18 September 2007, the Pine Rivers Shire Council voted to enter into a lease with Wrexmere Pty Ltd (Queensland Raceway) to re-open and manage the historic Lakeside Raceway on Brisbane's north side.

The deal still must obtain State Government approval and the lease has not yet been signed, but neither party foresees any major delays.

Lakeside Motor Racing Enthusiasts president Ian Milton said,

"Credit to the Council for demonstrating the vision and determination necessary to deliver a victory for ratepayers, motorsport and common sense. Lakeside will deliver long term economic, social and life-saving benefits to the whole community."

While very pleased with the progress, John Tetley of Queensland Raceway cautioned,

"This is just one more step along the way. Albeit a big milestone, it's not the last milestone by any means."

Work remains before Lakeside can once more be operational. Even though most neighbouring residents chose to live in the area long after the race track was established in 1967, Mr Tetley is currently visiting the UK as part of the continuing effort to incorporate the concerns of neighboring residents.

"Many of the UK tracks have fairly severe noise restrictions and I think there is a lot to be learnt from them", he said.

"Without a lot of physical support for tidying up tyre walls, repairing ARMCO etc, it is possible we will not re-open with racing for some time, but instead concentrate on low investment, low revenue activities as the business finds its feet again and builds up some spending money.  That is not to say there won't be speed events like sprints, but full-on racing may have to wait until we have the money to pay people to fix the edges, drains, tyre walls etc."

Cr Bob Millar sits on  both the Pine Rivers Shire Council's Strategic & Planning and Co-ordination committees responsible for approving the Lakeside Raceway lease. He said,

"I think it's good for the ratepayers to finally reach a point, after a lot of time and effort has been spent on the concerns of residents, to get to where we can now move forward."

Council minutes showed one of the Co-ordination Committee's recommendations as,

"In addition to the operational and capital development matters, the lessee, in consultation with Council, is to include in the capital improvement program construction of a barrier at the western end of the circuit (known as the Carousel). This barrier may take the form of a vegetated mound or similar barrier."

When asked when he expected to see Lakeside re-start operations, Cr Millar replied, "Two years ago!"