SILVERSTONE and Escapade Living are set to build 60 individual residences at the iconic British motorsport venue for people to stay in while enjoying the racing.
The apartments are set to be constructed on the outside of the historic Maggots and Becketts complex and have a starting price of £1.2 million!
For that money, the new ‘owner’ will get a 125-year lease on the building, although it’s not as simple as booking a removal van and moving in. The apartments aren’t designed for being lived in all year round, with owners granted 21 tokens per year. Each token can be exchanged for a stay in the property with higher-profile events costing the most tokens.
For example, a three-night stay at the Formula 1 will cost five tokens per night, with the MotoGP costing two tokens per night. So, a stay at both of the UK’s most high-profile motorsport events and you have already used all of your tokens for the year. There will obviously be a scheme that will allow people to buy extra tokens, although how much they are is not yet known.
For the remainder of the year, the trackside property will be rented out to petrol-headed punters, with the leaseholder looking to receive 35 percent of the generated revenue.
The houses that do not directly overlook the track – shown in the image above – are wet to cost £650,000 and will include access to a residents-only clubhouse that will allow them an exclusive view of the action.
Silverstone MD, Stuart Pringle, said:
“We are delighted to be working with Escapade Living in creating a peerless hospitality experience.
“Escapade Silverstone will enable motorsport lovers to buy residences right on the edge of the circuit. For us, its immersive, bespoke, guest-led offering hails the dawn of something special.”
