Jaguar Land Rover has plans to build a permanent base at the home of British motorsport.
04 Dec 2015 | 3180 Views | By Jim Holder, Autocar UK
The Tata Motors-owned Jaguar Land Rover is considering a bid to buy Silverstone race circuit.
The Financial Times is reporting that JLR has asked property consultants Cushman & Wakefield to value the circuit and its land. Autocar UKunderstands the planned development would become JLR's headquarters in the UK, with ...
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The Tata Motors-owned Jaguar Land Rover is considering a bid to buy Silverstone race circuit.
The Financial Times is reporting that JLR has asked property consultants Cushman & Wakefield to value the circuit and its land. Autocar UK understands the planned development would become JLR's headquarters in the UK, with plans to develop a heritage center, museum display, design workshop, hotel and customer handover buildings featuring as part of the proposal. In total, there would be offices for around 1000 staff. The value of Silverstone is reported to be £22.7 million.
According to the proposals – which have yet to be turned in to a formal offer – JLR would make the British Racing Drivers Club (BRDC), which currently owns the lease to the venue, a tenant of the circuit. Silverstone Circuits Ltd, a subsidiary of the BRDC, would then operate it on JLR’s behalf.
As such, racing activities are expected to continue to be held at the venue if the deal goes ahead, although the future of the loss-making British Grand Prix would be called in to question.
While being based at the so-called 'Home of the British Grand Prix' would add considerable kudos to JLR if it based itself at the venue, it is unlikely to want to subsidise an event that would severely disrupt its core activities.
Adding Silverstone to its portfolio would allow JLR to have a new formal 'home' in the UK – a themed experience in the same vein as Mercedes-Benz world, which is based at Brooklands. Parts of the Silverstone circuit could then be used for driving experiences, driver training and customer handovers.
For the deal to get the go-ahead, the BRDC would need approval from its 850 members, something that has been troublesome in the past when it has explored similar ventures. It has also sought a partner to invest in facilities at the venue for some time, without success. However, Autocar UK understands that the proposal is still in the very early stages, and even if the plan does go ahead a completion date would sit firmly after 2020.
It's believed that while JLR's Special Vehicle Operations Division will have a presence at the new site, the divison's permanent home will still be at Prologis Park in Coventry.
A JLR statement to the Financial Times said the firm continued to look to “invest and grow its business operations in the UK."
The BRDC has not commented in public, but a statement sent to its members and seen by Autocar UK's sister publication Autosport suggested that JLR was one of several companies interested in the circuit.
"The British Racing Drivers' Club (BRDC) receives confidential approaches from a number of different parties attracted to the iconic Silverstone circuit and considers these on their merits.
"Should an attractive offer be received from any party, the BRDC board would seek a mandate from Club members before progressing it.
"We have no further comments to make on the recent press reports."