Nico Hulkenberg, Sauber, Silverstone, 2013

BRDC sells lease on Silverstone land

2013 F1 seasonPosted on Author Keith Collantine

Nico Hulkenberg, Sauber, Silverstone, 2013The British Racing Drivers’ Club has sold a lease on land in and around the Silverstone circuit to MEPC, a commercial property management company.

The proceeds from the ??32m sale has allowed the BRDC to pay off loans from Lloyds Banking Group and Northamptonshire County Council.

MEPC’s 999-year lease on the Silverstone Industrial Estate and development land around of circuit does not include the management or development of the circuit.

The BRDC have been seeking an investor since making alterations to the track in 2010 and constructing the new Wing pits and paddock complex.

Chairman Stuart Rolt said the MEPC deal 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”.

“We are also confident that in MEPC we have a partner which fully appreciates the status of Silverstone as a race circuit, its history, the ethos of the BRDC and the importance of doing everything to ensure that reputation is enhanced in the future,” he added.

MEPC’s chief executive officer Rick de Blaby said they had “specific projects” planned for the next two years, but the “ongoing development of Silverstone could be a ten-year project”.

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Image ?? Sauber