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Silverstone sold to MEPC priced at 32 million pounds

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Map showing the long-term lease of Silverstone to MEPC © BRDC

Map showing the long-term lease of Silverstone to MEPC © BRDC

Property developer MEPC, which is backed by BT’s pension fund, has taken a 999 year lease on the Silverstone Industrial Estate and development land around the outside of the Formula One circuit, the track’s owners said on Wednesday.

The British Racing Drivers’ Club (BRDC) said in a statement that the agreement does not include the management or development of Silverstone Circuit.

“MEPC has paid 32 million pounds for a long-term lease. This payment has allowed the BRDC to pay off its long and short-term loans from Lloyds Banking Group and Northamptonshire County Council,” the statement said.

This article originally appeared in Reuters – Silverstone sells lease to MEPC

Silverstone racing circuit signs £32m development deal (BBC.CO.UK) – The owner of Silverstone racing circuit has signed a £32m deal for facilities to be built on its site. The British Racing Drivers’ Club (BRDC) has sold a 999-year lease to MEPC, which will build warehouses and hotels alongside the circuit.

BRDC confirms Silverstone lease (ESPNF1) – The British Racing Drivers’ Club (BRDC) has confirmed that Silverstone has been sold to commercial property company MEPC on a long-term lease.

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