Silverstone Circuit has submitted a full planning application for a huge development centred around the British Grand Prix venue, transforming the area around the current main entrance to the track.

Most telling on the on illustration of the proposal is brand new structures around Club and opposite the new Wing pit complex, creating a focal point around the start-finish line of the new Grand Prix circuit. Bridges and tunnels will also be added to help increase the ease of access around the track.

Also included in the proposal submitted to Aylesbury Vale District Council and South Northants District Council are three hotels and a Welcome Centre and Museum of Motorsport of up to 61,000 square metres. The illustration promises the potential of several iconic, potentially trademark, areas around the track, putting Silverstone on a par with some of the Grand Prix venues introduced more recently.

However, the biggest change to area around the current circuit will be a development of greatly enlarged Business and Technology Parks and an Education Campus.

“This is the most important initiative that Silverstone has taken in its 60 year history,” said Richard Phillips, managing director of Silverstone Holdings Ltd. “Things have changed dramatically since the early days. Approval of this planning application will help maintain Silverstone's position as a leading global centre for sport, leisure, education and technology and support its vision of becoming a World leading motor sport destination.”

Stuart Rolt, chairman of the British Racing Drivers' Club (BRDC) adds: “The submission of this planning application is a big step forward in releasing the commercial potential of Silverstone and its 760 acre Estate. The timing of this planning application is closely linked into the process we are currently undergoing to seek potential investment from third parties that will enable us to move forward with our plans more rapidly.”

The completed development will create 8,400 new permanent jobs in the business attracted to the new site, with an additional 550 construction job per annum during the development phase. At least 4,800 of these total jobs are expected to be entirely new to the area.

Illustration of the proposed development at Silverstone