Silverstone Circuits, the company which runs the 323.76 ha (800-acre) motor racing site in Northamptonshire, has applied for planning permission to extend industrial units into a 20.24ha (50-acre) technology park. Hundreds of new jobs would be created, the company already employs 400.
It has also entered into talks to buy a neighbouring 161.88ha (400-acre) site, which contains two golf courses and has planning permission for a 190-bedroom hotel. The development is expected to have a positive knock-on effect on the local economy and on mainstream car makers as well as the motor sport industry.
The constitution of Silverstone’s parent company, the British Racing Drivers’ Club (BRDC), prevents it from borrowing, so construction must be funded by income. However, the BRDC has managed to spend £88m over the past decade. The club had a turnover of more than £18.7m last year and a pre-tax profit of £1.29m.
- The Financial Times 12/7/96 page 1
