In 2014, the ground went through a major renovation, which included the installation of floodlights and the conversion of a substantial part of the grandstand into a shopping and dining complex.

After the fall of Singapore the Royal Navy's East Indies Station was moved to Colombo and then to Trincomalee.

Consisting only of a single runway, station headquarters and the officers' mess were set up in the bungalows in Cinnamon Gardens and were serviced by a newly established military hospital in the premises of Royal College Colombo.

The Royal Navy (RN) also established a naval air station here during the Second World War.

[6] There were also a number of sub-units in Colombo including use of the local Rowlands Garage which was acquired for aero engine repairs and the fixing of aircraft wings, and became the Royal Naval Aircraft Repair Depot, Colombo.

[6] List of first and second line squadrons, station flight and other flying units based at this location:[6] Following the end of the war the airfield was dismantled, racecourse was reconverted back to a horse racing track.

This resulted in horse racing stopping completely in Colombo thereafter along with Nuwara Eliya Racecourse (which re-opened in 1981).

In 2011 the Urban Development Authority commenced the renovation of the Grand Stand and the Colombo Turf Club building.