The centre will be used for the rehabilitation, retraining and rehoming of thoroughbreds after their racing careers.

Horses will be retrained to find new homes in equestrian sports, pony club, polo and as pleasure horses or paddocks mates.

The 2600 acre property at Capertee (near Lithgow) was purchased by Racing NSW, it was announced on the weekend.

​Ms Tarpenning said the centre, which has a capacity of 500 horses, will also be available for horses that never successfully made it to the race track.

Well known ex-racers including Hartnell and Hiraki are expected to take up residence in the centre.

“Living legends of horses will be available for people to see,” Ms Tarpenning said.

She said while horse welfare was the reason for the centre’s establishment, it will also bring an economic boost to the region.

The property’s 1890s built nine-bedroom farmhouse will be converted to a bed and breakfast and there are 10 authentic shearers huts that will offer additional accommodation.

Eco-tourism activities will be established at the property as part of the farm stay experience.

“It’s going to mean a lot of jobs, not just with feed stores and vet clinics, but also the eco stay with food and wine,” she said. “It’s a very exciting investment.”

Minister for Racing and Member for Bathurst Paul Toole said the site was already an equestrian property and as such had much of the required infrastructure.

“This new facility will ensure thoroughbred horses continue to receive the best of care after they’ve retired from the racetrack,” Mr Toole said.

He said the NSW Government was supporting racing through tax parity reforms that drive competition with other states, encourage investment and support jobs growth.

The property will be funded by Racing NSW’s Equine Welfare Fund (established in October, 2015) through a one per cent levy on all prize money paid in NSW.