CAMBRIDGE, 24km southeast of Hamilton, was founded as a militia settlement at the navigable limit of the Waikato River in 1864, and today is surrounded by stud farms. Mosaics of Cambridge-bred winners are embedded in the pavements along the town’s Equine Stars Walk of Fame. The town’s collection of elegant nineteenth- and twentieth-century buildings is mapped on a heritage trail brochure, making for a pleasant hour-long stroll.