27/07/2020
NEWS STORY
Silverstone has revealed plans for a complex comprising 60 residences and a clubhouse, that will "offer unparalleled sightlines of the circuit" and "redefine access to motorsport".
The full press release reads:
Escapade Silverstone, comprising 60 residences and a clubhouse, will give guests the chance to live out their racing ambitions and offer unparalleled sightlines of the circuit. It will seek to redefine access to motorsport.
To-date, for those seeking higher-end accommodation when track events are held, London has often been the only option. Escapade Silverstone changes that. Designed for high performance living, the 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 racetrack. Light-filled and with high acoustic specifications, they have underfloor heating, comfort cooling and ensuite bathrooms. When an owner is not staying in their residence, it will form part of the wider accommodation available to guests at Silverstone and offer a healthy net yield.
Escapade Silverstone enables owners to capitalise on the 1.2 million visitors that the circuit welcomes every year. It is a reimagining of leisure, lifestyle and investing: putting capital into something that provides entertainment, enrichment, enjoyment and learning, while also making a return.
This is an end-to-end investment; residences are fully managed, from all upkeep and maintenance to the organising of stays and revenue distribution. 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.
Residences are provided on a 125-year lease and owners will be able to use them as they wish up to a certain number of nights a year. Usage nights are calculated to enable maximum utilisation of a property - for owners as guests and investors. Income made on residences are not pooled; rather, owners are forecast to receive 5-6.5 percent 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.
Escapade Silverstone will also separately provide climate-controlled car storage, allowing owners to securely store vehicles when not in use. This facility, less than 500 meters from the edge of the Silverstone circuit, will offer full pre- and post-use preparation and inspection - allowing guests to turn up and make the most of their time on the track.
Escapade Living CEO Will Tindall, said: "We're delighted to be working with such a world-renowned venue as Silverstone for our first development. Escapade Living creates destinations that are entirely of their surroundings, while also providing owners with the opportunity to make a return on unique world-class property. The residences overlook arguably the most exciting complex of corners on all of the F1 calendar.
"In our opinion, real luxury doesn't feel expensive; it feels comfortable and natural. That's what Escapade Silverstone provides. And more than that, it is completely integrated with the circuit - an authentic experience borne out of the world's foremost racetrack and, as a finished product, baked into it.
"The millions watching Silverstone's Grand Prix double bill will do so virtually. But as the world unlocks, thousands will return to Silverstone to share the joy and spectacle of speed. When they do, we hope Escapade will be the ultimate place to stay as a guest, or as an owner."
Stuart Pringle, Managing Director Silverstone Circuits, added: "Silverstone has always been a centre of excellence from a racing, technology and engineering perspective. But we aim to be a global, all-weather destination, welcoming guests from around the world on a daily basis to enjoy motorsport together, and to do it in surroundings which enrich that experience. 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."