A MASSIVE fire has broken out at one of Australia's most famous horse racing tracks.<br /><br />According to the Today program, firefighters battled the large blaze at the historic Caulfield Racecourse in Caulfield East.<br /><br />The flames have engulfed parts of the grandstand as well as a restaurant.<br /><br />The situation has led to authorities issuing a smoke warning in the area.<br /><br />Fire Rescue Victoria (FRV) announced that crews responded to Station Street at about 6:20 a.m. on Tuesday to reports of an incident.<br /><br />A video posted on social media showed flames at the back of the stand’s first level at about 7 a.m.<br /><br />And a VicEmergency warning showed 11 vehicles responding to the incident.<br /><br />FRV added that the response was escalated to the third-alarm level but was contained to the center of the grandstand and deemed under control by 7.09 am.<br /><br />An advice message was then issued to the relevant areas around the incident.<br /><br />It covered the suburbs of Ashburton, Carnegie, Caulfield, Caulfield East, Caulfield North, Caulfield South, Glen Huntly, Glen Iris, Malvern, Malvern East, Murrumbeena and Ormond.<br /><br />An alert said: "There is currently no threat to the community, but you should continue to stay informed and monitor conditions."<br /><br />The beloved venue is one of Australia's biggest landmarks of horse racing.<br /><br />It held its first event in 1859 and has continued to host large events for the past 166 years.<br /><br />Its biggest Itst is the Caulfield Cup, held every spring, with a pot of £2.5million up 2.5 million.