Vectos has been acting on behalf of MEPC to significantly expand the motorsport related office opportunities at the internationally renowned location. In the next 10 years MEPC plans to develop Silverstone Park into one of the world’s leading clusters for cutting edge and precision engineering companies, ranging from small start-ups to famous brand names. The development will include a new technology park, hotel, education facilities and a social hub on land around the circuit.
It is predicted that 1,822 jobs will be created during the 10-15 year construction period and will contribute £78 million to the local economy. The site should generate up to 4,500 new jobs and contribute between £157 and £210 million to the South Northants economy post construction, depending on the type of businesses that move to Silverstone.
MEPC now has outline permission for: 157,000m2 of employment space ranging from office use to storage and distribution use, accommodation for around 200 students, 9,000m2 of education floor space, and 250 hotel beds spread over a maximum of two hotels.
Placemaking, innovation and social sustainabilty are at the heart of the case. A social hub for those employed on the site and visitors to circuit events will become the ‘heart’ of Silverstone Park and will include a gym, nursery, showers, changing facilities and a social area.
Vectos has met with resident groups and local Councillors. This strategy may save us £15 million on new junctions. We've effectively 'sold' the concept, not just to officers and Members, to the local people.
Planning permission was granted in December 2016.