Illustration of the apartments due to be completed in 2022
Escapade Living
For 60 individuals, Formula 1 really will come home at the British Grand Prix: trackside apartments, offering views of the Silverstone circuit have gone on sale.
The buildings are being constructed by Escapade Living on the outside of the track by Maggotts, offering views of the cars flicking left then right towards Becketts at around 180mph during the Grand Prix.
Work is expected to have finished by May 2022, in time for the major races that year.
The cost of being able to watch the Grand Prix from your terrace in a dressing gown or (more likely) entertain clients over the race weekend starts at £1.2m for a 125-year lease.
That’s around the same price of a full British Grand Prix weekend’s worth of hospitality for three at the Formula 1 Paddock Club for 125 years at today’s prices.
The fee for a Silverstone Circuit address comes down to £650,000 for an apartment situated further back on the site and without track views. Each buyer will have access to the site’s trackside clubhouse where you can watch the race. There’s also the option — according to the promotional brochure — of taking a swim while keeping an eye on the circuit.
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Two-, three- and four-bedroom properties are available. All include garage space — illustrated with images of supercars — as well as discounted track time and free access to all of the major events.
However, before you put your family home on the market, note that the price only includes three weeks of residency — at best.
Owners get 21 credits a year to stay at their own property. Those using their apartment during the F1 British Grand Prix will see their allocation dwindle rapidly, as each night uses five credits — and there’s a three-night minimum stay over that weekend.
Staying for a MotoGP or BTCC round, or the Silverstone Classic, uses up two of the credits per night.
For the rest of the year, the apartments will be rented out and owners will receive 35 per cent of the revenue.
