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TODAY'S OTHER NEWS

Vroom with a view - investment homes for sale at Silverstone

A developer working in collaboration with Silverstone race circuit is creating homes inside the track, near one of the motor racing world’s most legendary sequence of corners.

Lifestyle-led development firm Escapade Living is marketing a total of 60 two to four bedroom residences priced from £650,000 to £1.65m close to the Maggotts, Becketts and Chapel sequence at the Northamptonshire circuit.

Work starts in October and they will be completed by May 2022, in time for that year’s Formula One and MotoGP grands prix. The units are offered on a 125 year lease. The developer says the properties “will seek to redefine access to motorsport.”

Residents will have access to a clubhouse and facilities include state-of-the-art simulator rooms, briefing rooms, a driver-focussed gym, oxygen swimming pool and sauna, restaurant, bar and private dining room.

The residences themselves have cantilevered terraces, allowing spectators to get even closer to the track. 

There will also be a rental facility for owners to operate as well as a management and maintenance service.

“Owners will also be granted founding membership, giving free access for all major race events, use of the clubhouse – even when they’re not staying – priority track access and exclusive invites to owner-only events, track days and trips” says a statement from the developer. 

Owners will be able to use the properties up to a certain number of nights a year. Usage nights will be calculated to enable maximum utilisation of a property.

Income made on residences will not be pooled; rather, owners are forecast to receive five to 6.5 per cent net yield from their individual property, taking into account how much they themselves use it. They are also free to sell their property at any time.

Stuart Pringle, Silverstone’s managing director, says of the scheme: “Its immersive, bespoke, guest-led offering hails the dawn of something special.”

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