Home Commercial Property British Grand Prix commands highest motorsport rental

British Grand Prix commands highest motorsport rental

by LLP Editor
30th Jun 22 12:22 pm

Research from Ocasa, the specialist rental platform, reveals that Silverstone is not only the UK’s most famous racetrack but is also home to the strongest annual rent growth of all of the nation’s motorsport venues.

Formula One’s great and glorious arrive in the UK on 3rd July as Max Verstappen looks to continue his domination over the field. It will be the 77th British Grand Prix and Silverstone will, once again, play host to the most high octane day on the nation’s racing calendar.

To mark the occasion, Ocasa has analysed rent values for properties situated close to the UK’s major race circuits to find out which of them is home to the highest rate of annual growth.

Across all of the 21 locations studied, the current monthly rent averages £1,065 having increased by 13% over the last year.

The strongest annual growth has been within Silverston’s NN12 postcode area. In 2021, the average monthly rent was £1,009 while today it stands at £1,318, growth of 31%.

Oliver’s Mount in North Yorkshire is the country’s only natural road race track. It is located in the YO11 outcode area where rent values have experienced 30% annual growth and now sit at an average of £622/month.

Rent growth has also been strong in Goodward’s PO18 area (27.8%), Thruxton’s SP11 (24.4%), and Mallory Park’s LE9 (23.8%).

All in all, 17 of the 21 locations studied have experienced positive rent growth in the past year.

The only places rent values decline are Brands Hatch’s DA3 outcode area (-9.6%), Blyton’s DN21 (-9.3%), Pembrey Circuit’s SA16 (-4.3%), and Lydden Hill’s CT4 (-3.7%).

When it comes to the outright most expensive motorsport rental location, Goodwood ranks top (£1,422 per month), followed by Silverstone (£1,318), and Thruxton (£1,266).

Sales and Marketing Director at Ocasa, Jack Godby, commented: “Rent values have been steadily increasing in the past year after stalling slightly during the pandemic but it’s fair to say that the sector isn’t quite firing on all cylinders.

That is, of course, unless you’re looking to rent around one of the nation’s most renowned race tracks, with the vast majority seeing strong upward growth where rental values are concerned.

Nowhere more so than Silverston and it isn’t uncommon to find high rental price premiums surrounding famous locations, even if they’re only in the spotlight for a day or two per year.”

Leave a Comment

You may also like