West Australia's governing body has bought Touchstone Farm to develop its retraining and rehoming program for retired racehorses.

Racing and Wagering Western Australia says the breeding and agistment property will be turned into a multi-purpose facility to support the WA Racehorse Welfare Plan announced last week to address concerns over traceability, rehoming, and abattoirs and knackeries.

"The purchase forms part of a series of initiatives to improve rehoming and assist in the transition of retired racehorses to equestrian and pleasure pursuits, and provide support for their ongoing wellbeing," RWWA chief executive Richard Burt said.

"The property will act as a multi-purpose racehorse welfare facility for the use of retraining by accredited re-trainers and emergency care for retired racehorses."

Burt said RWWA would take over the property in mid-December and expects it to be operational early in the new year.

"The welfare of our horses is paramount and RWWA is working hard to ensure that the commitments outlined in the welfare plan are executed in a timely and efficient manner," Burt said.

"We will be consulting with the industry and other relevant stakeholders as we continue to implement the various initiatives and we look forward to the opening of the new welfare facility."

Racing NSW and Racing Victoria operate similar programs aimed at retraining and rehabilitating former racehorses.