world-famous Silverstone Circuit in the East Midlands has gained
planning approval for an outline application supporting a 20-year
masterplan to expand its world-famous Formula 1 circuit site into an
international events, leisure and business destination.
comes as the owners put the final touches to their new events space and
hospitality complex, The Silverstone Wing, which opened for business in
2011 and is due to be fully completed in May 2012.
new facility is part of a £27m redevelopment at the site, which
included fresh pit and paddock facilities, smaller conference and
meeting rooms, VIP hospitality areas and a view across the start and
finish line of the Formula 1 circuit.
The latest outline
planning application approved in December will see three hotels built
onsite, along with business and technology parks, an education campus,
ancillary retail and spectator facilities including a museum of motor
sport, an outdoor stage and an experiential automotive display. The
plans had to be approved by both Aylesbury Vale District Council and
South Northamptonshire Council.
According to site owners the
British Racing Drivers’ Club (BRDC), development of the masterplan will
realise the broader potential of the Silverstone site and further
strengthen its position as an events destination 365 days a year. The
development is expected to create 8,400 permanent jobs with firms and
activities attracted to the site, plus an average of 550 construction
jobs per year throughout the development phase.
Silverstone Holdings MD Richard Phillips said the masterplan is the most important initiative in its 60-year history.
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,” he said.
development of hotels onsite is expected to be a major plus for
attracting event organisers to the new Silverstone Wing. The complex
offers 3,700sqm of exhibition space across three connected halls and has
already secured several significant exhibitions this year including
Fleetworld and the Helicopter Show.
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