The owners of the Silverstone motor racing circuit in Northamptonshire have got the final seal of approval to redevelop the 760-acre estate.
The British Racing Drivers’ Club and its subsidiary Silverstone Holdings have secured planning permission to transform 4m sq ft.
Plans comprise a 1.3m sq ft business park, 674,488 sq ft technology park, 373,055 sq ft education campus, three hotels and shops, as well as spectator and leisure facilities within the racing circuit site.
Permission from South Northamptonshire council and Aylesbury Vale District council comes after both agreed in December 2011 to grant permission subject to legal agreements and infrastructure improvements.
Richard Phillips, managing director of Silverstone Holdings, said: “This is the most important initiative that Silverstone has taken in its 60-year history as the home of British motor racing. This planning will help maintain Silverstone’s position as a leading global centre for sport, leisure, education and technology and retain its position as a world-leading motor sport destination.”
Meanwhile, the BRDC continues to look for a development and funding partner after an exclusivity period, believed to be with Harrods owner Qatari Investment Authority, expired earlier this year.
joanna.bourke@estatesgazette.com
