Images courtesy of Lustre Lodge
Lustre Lodge, which offers a draft of four yearlings in the upcoming Inglis Classic Sale and is located at Alison, on the Central Coast of New South Wales, was purchased to form a bridge between Sydney-based clients and the breeding heartland of the Hunter Valley, with an eye of turning broodmare ownership into a real experience.
"I had always had an interest in thoroughbred horse racing since I was a kid and I started in breeding with my first broodmare around 25 years ago. I bought a filly at the Inglis Easter Sale who was nicely bred, and from her I built up the broodmare band over the following 10 years," Spratt told TDN AusNZ.
"In 2015, we started to look for our own property and we came across Lustre Lodge, up at Alison. What we liked about it, in terms of location, is that it’s very convenient to Sydney. It was important for us and our Sydney-based clients to be able to get up to the property and back in the one day."
Lustre Lodge
Being within two hours of the Hunter Valley, where most of the country's premier stallions are located, was also a significant factor, while Spratt, who grew up in Wellington in the Central West of New South Wales, also wanted a property close to the coast in a higher rainfall area to mitigate the impacts of drought.
Lustre Lodge, originally set-up as a broodmare farm by Brent and Judy Hudson, was not only perfect in those regards, it also had the scope to fulfil Spratt's vision.
"We think it’s one thing to own a broodmare but it’s important you can enjoy that experience as well. We encourage people to be part of the process." - Glen Spratt
"We think it’s one thing to own a broodmare but it’s important you can enjoy that experience as well. We encourage people to be part of the process," he said.
"We have just finished building hotel style accommodation up there, where we can invite our clients up, and they can watch their mares foal and be close to the action while not being too big a trip from Sydney."
Glen Spratt
There are around 22 broodmares on Lustre Lodge at the moment, with a focus on quality over quantity and constant upgrading of the band, working closely in partnership with their client base.
"Our business model is that we like to co-invest in the mares with our clients. A typical scenario for us is where we might have a client who has a nice mare retire off the track and we might buy a share so that it gets a good home and we can enjoy the breeding process," Spratt said.
"A lot of people with good fillies and mares sell out after they race. I like to get them involved with the breeding aspect as well. We all know it's fun and exciting to race horses but it’s just as much fun to breed them.
"We all know it's fun and exciting to race horses but it’s just as much fun to breed them." - Glen Spratt
"When you see those new foals born in spring. That's what I really love. It's my favourite time of the year."
That collaborative approach is designed to produce the best outcome which for Spratt is results 'in the sales ring and on the track'.
A little help goes a long way
Key to building up the broodmare band as well as sourcing quality fillies from the yearling sales, have been Astute Bloodstock's Louis Le Metayer and Randwick Bloodstock's Brett Howard.
Lustre Lodge purchased four fillies at the recent Magic Millions Gold Coast Sale, by leading stallions Medaglia d'Oro (USA), Pierro, Snitzel and Deep Field, all in partnership.
Astute Bloodstock's Louis Le Metayer (pictured) and Randwick Bloodstock's Brett Howard have been key to building the broodmare band
"When we look for a filly, we want an athlete. It needs to be by the right stallion and it doesn't have to be a top end stallion, but we really want that strong female side of the pedigree," Spratt said.
"We always look forward a generation and start thinking who we can match that to, and how hard is it going to be to find the right mating for it. That's why we use Louis and Brett, because these guys are looking at horses every day. We can all read pedigrees, but we need the experts to select the right athlete and that's an important thing that buyers are looking for."
"We use Louis and Brett, because these guys are looking at horses every day. We can all read pedigrees, but we need the experts to select the right athlete and that's an important thing that buyers are looking for." - Glen Spratt
Operations Manager Paige Belsham is the other key person for Spratt and his fellow directors, David Knight and Peter Colley. Since recently joining Lustre Lodge, she has made a significant difference to the business according to Spratt.
"I couldn't be happier with what she is doing there. She brings a great deal of professionalism to the farm and gives me a lot of confidence that everything is ticked off daily," he said.
"It doesn't matter whether it is the horse business, or where I work in financial services, successful businesses have one thing in common and that's attention to detail. If you have that and take care, the rest normally looks after itself."
A mare at Lustre Lodge
Draft of four ready to impress
Lustre Lodge's best result at last year's Classic Sale was a Zoustar colt out of It's One (O'Reilly {NZ}), which fetched $220,000. His half-brother, by Starspangledbanner is offered as Lot 206 in this year's sale which starts on Sunday at the Riverside Stables and Spratt describes him as a very nice colt.
Spratt also has an opinion of Lot 188, the Deep Field colt out of Humble (Exceed And Excel), the blood-sister to stakes placed pair Seeking Attention (Exceed And Excel) and Exceed And Exalt (Exceed And Excel).
"The Deep Field colt, I really like. He looks a real athlete out of a an Exceed And Excel mare. I'm sure he will be pretty popular out there," he said.
The Deep Field-Exceed And Excel nick has already produced the winners Bullet Fly and Sky Diamonds.
Lustre Lodge also offers Lot 628, a filly by Arrowfield's first season sire Shalaa (Ire) out of Bridle Lane (Street Cry {Ire}), who hails from the extended family of champion colt, sprinter and stallion Fastnet Rock, and Lot 804, a filly by Star Witness out of Annlea (Canny Lad), whose fourth dam is the G1 Blue Diamond S. winner Midnight Fever (Luskin Star), which has been a prolific stakes performing family.
Active as both a vendor and buyer, and with a 'day job' in financial services, Spratt keeps close tabs on the state of the market and said the current strength is not a surprise to him.
"I know a lot of people were worried about the market but being in financial services I was always confident the market will stay strong. Interest rates are low. We are in the mortgage business where there are a lot of people paying off ahead of time. I don’t think there is that doom and gloom that people have been talking about," he said.
"With increasing prizemoney, and all the incentives, and additional races, it all looks like it's heading in the right direction. Racing NSW and the administrators deserve a lot of credit for that. I know they don’t get credit all the time, but they are doing a terrific job."
