Property developer signs 999 year lease for Silverstone 11 September, 2013 Silverstone Arena Circuit aerial view Property developer MEPC, which is backed by BT's pension fund, has taken a 999 year lease on the Silverstone Industrial Estate and development land around the outside of the Formula 1 circuit, the track's owners said on Wednesday.
The British Racing Drivers' Club (BRDC) said in a statement that the agreement does not include the management or development of Silverstone Circuit.
'MEPC has paid 32 million pounds ($50.31 million) for a long-term lease. This payment has allowed the BRDC to pay off its long and short-term loans from Lloyds Banking Group and Northamptonshire County...
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