The future of the Australian Grand Prix has been confirmed as the Victorian Government officially confirmed a $350 million investment into the Albert Park Grand Prix precinct.
A multi-stage redevelopment for the historic track
The upgrade plan includes a complete revitalisation of the pit building with an expanded paddock. Additionally, the plan proposes significant infrastructure improvements for use outside of the Grand Prix. To ensure Albert Park remains a useable facility not only for Formula 1, but the people of Melbourne.
The current pit and paddock buildings date back to the mid-1990s. Therefore, they are no longer compliant with the FIA’s modern specifications. The redevelopment of the buildings is expected to alleviate external pressure and ensure the Australian Grand Prix remains on the calendar for a considerable period.
Construction of the new pit complex will begin after the 2026 Australian Grand Prix. With completion targeted for the 2028 Grand Prix. Despite the large-scale works, the venue will remain operational throughout the redevelopment via a phased approach.
The redevelopment includes 14 state-of-the-art garages, upgraded race control, a race administration centre, and a modern media centre.
The exclusive Paddock Club, which hosts VIPS, sponsors, and celebrities, will see its capacity more than double from 2,000 to 5,000 guests. Allowing for an even larger sell-out crowd in the years to come.
A major step for the sporting capital of Australia
This commitment also involves park improvements designed for everyday visitors, not just those attending the Grand Prix.
The new facilities will feature seven indoor sports courts and improved clubrooms for grassroots sports clubs that utilise the outdoor fields.
Premier Jacinta Allan emphasised the community benefits of the investment. Highlighting the project’s dual focus on both international motorsport and local recreation.
“This massive upgrade is a win for the local community – more space for community sport, more courts, better change rooms and park upgrades, and a sporting venue Albert Park locals can enjoy.”
Melbourne’s Grand Prix future locked in until 2037
Formula 1 CEO Stefano Domenicali welcomed the announcement, calling it a strong signal of Melbourne’s dedication to remaining a key destination for the sport. The state government’s investment ensures that the Australian Grand Prix remains in Melbourne until at least 2037.
Australian Grand Prix Corporation CEO Travis Auld noted that the upgraded facilities would be critical in continuing to deliver a world-class event.
“This redevelopment will allow us to meet the expectations of teams, drivers, fans, and the global F1 community, while also enhancing the experience for everyone who comes to Albert Park.”
