by ANDREW GIBBS e: news@businessmk.co.uk
FOR MOTORSPORT fans, this must be a dream come true: a home overlooking the world-famous Silverstone Circuit.
To coincide this weekend with the first of two F1 Grand Prix being staged at Silverstone, lifestyle-led property developer Escapade Living is unveiling the first of its two-, three- and four-bedroom residences only metres from the track.
Construction is due to begin in October on the homes, priced between £650,000 and £1.65 million. The development is expected to be completed in May 2022, having received planning consent last year.
Escapade Silverstone, comprises a total 60 residences and a clubhouse. Designed for high performance living, the clubhouse and facilities include state-of-the-art simulator rooms, briefing rooms, a driver-focused gym, oxygen swimming pool and sauna, restaurant, bar and private dining room.
The residences have cantilevered terraces, allowing spectators to get closer to the racetrack. 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. 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.
Yield is forecast at between 5% and 6.5% and owners are free to sell their property at any time.
Escapade Living chief executive 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.”
Silverstone Circuits managing director Stuart Pringle 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.”
The Escapade Living team combines the talents of Twelve Architects, interior design firm Michaelis Boyd and project management consultancy Tower Eight.
