All systems are go for extensive redevelopment around the Silverstone race circuit following planning permission being issued today (23 August) by South Northamptonshire Council (SNC) and Aylesbury Vale District Council (AVDC).
This follows the resolution of both SNC and AVDC in December 2011 to grant permission subject to the completion of a legal agreement to secure a number of infrastructure improvements needed to facilitate the development.
This agreement has been completed and signed by SNC, AVDC and Silverstone Holdings Ltd, the commercial arm of the British Racing Drivers’ Club who are now in a great position to continue to attract a range of major events which are vital to the area’s economy.
Everything is in place to see Silverstone develop as a world-class motor sport destination as well as a leading business, leisure and entertainment venue.
There will be a mix of uses including offices, distribution facilities, three hotels, new spectator facilities, a museum of motor sport and a university technology college with accommodation.
Councillor Mary Clarke, Leader of South Northamptonshire Council, said: “The decision to invest in the site is welcomed by us all and will provide opportunities for companies located in the area to benefit from this emerging centre of high performance engineering excellence.
“It is a great example of the public and private sector working together to develop the economy locally. This 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.”
John Cartwright, the Leader of Aylesbury Vale District Council added, “It’s a great privilege to have Silverstone as part of our district and to be part of such exciting plans for the circuit’s future. The importance of the development to the Vale economy and in particular the north of our district shouldn’t be underestimated so this is a great step forward for everyone.”
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 District Council and South Northamptonshire Council for the way in which the two planning authorities have worked together on this application.”