Global law firm Norton Rose Fulbright has advised the British Racing Drivers Club (BRDC), owners of the world-famous Silverstone motor racing circuit (Northamptonshire, England), on the sale and development of a 197 room hotel. The hotel will be developed by Bricks Capital Limited.
The Hilton Garden Inn Silverstone, which is due to open in 2020, will include a rooftop terrace and offer race-day hospitality experiences for all the major sporting events held at the venue. The hotel will be constructed on Silverstone’s International Pits straight, with extensive views overlooking the track. The hotel will enhance the circuit’s offering outside of the race calendar and have direct access, via a cross-circuit footbridge, to The Silverstone Wing Conference Centre — Silverstone’s iconic event venue, with 12,500 square meters of flexible space for up to 3,000 people.
Nick Clayson, real estate partner, who leads the hotels and leisure practice at Norton Rose Fulbright, comments:
“This is a significant milestone in the continued evolution of the Silverstone circuit. We are delighted to have been involved in this transaction, not just for our client, but for the home of British motorsport at Silverstone.
“We have acted for the BRDC for a number of years and the completion of this deal is testament to the excellent relationship we have enjoyed with the client. This major transaction attests to the strength of our offering within the hotel and leisure industry, our unique relationship with the Silverstone circuit as well as our credentials in motorsport — which is evidenced through our corporate partnership with the McLaren F1 team.”
This transaction builds on the advisory work that Norton Rose Fulbright has provided in relation to Silverstone. The firm has also advised BRDC on its deal with Aston Martin who have chosen the circuit to be the new base for their testing and development program. Opening this October, Silverstone will be a hub for Aston Martin’s prototype vehicle testing with a particular focus on chassis dynamics and high speed-handling development.
The Norton Rose Fulbright team was led by real estate partner Nick Clayson, with assistance from Charlotte Tullis (senior associate) and Alice Hunter Johnston (associate).
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