Silverstone sale goes through

The British Racing Drivers' Club has confirmed that Silverstone has been sold to a commercial property company called MEPC.

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Deal reached to redevelop land around Silverstone

Plans to redevelop land surrounding the Silverstone race circuit in Northamptonshire, have been unveiled by its site owners, the British Racing Drivers Club.

London commercial property firm MEPC has paid £32 million for a 999 year lease.

A mixture of commercial, engineering and leisure projects are earmarked for the land, which has planning permission. It's part of a long-term business strategy for the complex.

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Silverstone sale

The land around the circuit has been sold. Credit: ITV News Anglia

The British Racing Drivers' Club has confirmed that Silverstone has been sold to a commercial property company called MEPC.

The BRDC has now revealed it has sold the Silverstone Industrial Estate and development land around the circuit to MEPC on a 999-year lease for £32million.

While the BRDC says the deal "does not include the management or development of Silverstone Circuit itself", the payment has in turn allowed it to clear loans and BRDC chairman Stuart Rolt says he is sure the deal will ensure the continued growth of the Silverstone site.

The land has been sold on a 999 year lease. Credit: ITV News Anglia

"We have every confidence that their vision for our land will see the realisation of a high-quality development, which will add to the ever growing status of Silverstone as a world-class centre for motor sport and vehicle engineering."

BRDC Chairman, Stuart Rolt.

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