Silverstone Circuit's latest planning application, which supports the venue's 20 year Masterplan, has been approved by both Aylesbury Vale District Council and South Northamptonshire Council. The approval marks the next step towards the long-term future of the circuit, which is owned by the British Racing Drivers' Club (BRDC).
It's hoped the development will attract firms and activities to the site and create around 8,400 permanent jobs, as well as 550 construction jobs through the development phase. The approval of the masterplan conforms with the Silverstone Development Brief, which was issued in February 2009.
It comprises a Business Park, Technology Park, Education Campus, Three Hotels, Ancillary Retail and Spectator Facilities, including a Welcome Centre and Museum of Motorsport, improved leisure and event spaces, including a kart track and outdoor stage and other ancillary development, including landscape works, grandstands, support paddock, a bridge, a tunnel and a new access point.
Richard Phillips, Managing Director of Silverstone Holdings Ltd, said: “We are delighted with the outcome and approval of this planning application – this is the most important initiative that Silverstone has taken in its 60 year history as the Home of British Motor Racing. This 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. I would also like to take this opportunity to thank both Aylesbury Vale and South Northamptonshire Councils, for the way in which the two planning authorities have worked together on this application.”
Councillor Mary Clarke, Leader of South Northamptonshire Council, said: “Approval of this Masterplan, which secures major international investment in the future of Silverstone Circuit, is a key strategic decision for this country. Development around Silverstone race circuit will now continue at-a-pace, despite the continued economic downturn. Having Silverstone circuit within South Northamptonshire is a source of great pride for us and this is fantastic news for the economy, not just for South Northamptonshire but regionally and nationally. The investment in the high-technology sites, as part of the overall development, will also provide opportunities for secondary suppliers and other companies located in the district to benefit from this emerging centre of engineering excellence.”