Rockingham to be sold

[mark_l]

"Rockingham Motor Speedway will be sold to housing developers in November, but its future as a racing venue has been assured for at least five years."

Taken from Autosport website.

[PaulSands]

It was in the inkies too...thats the end of RMS then...no way once you get that many houses around it are the residents not going to kick up a stink. I bet the sales pitch for prospective buyers will be "oh that wont be here for much longer"

[andypipe]

I would buy a house next door if it was going to keep running

[Marcel ten Caat]

Ok...

Only 2 newsitems later this is said

Rockingham Motor Speedway boss Joe Dickinson has told Autosport-Atlas that selling the oval circuit will ensure it will be in a better position to host major international categories such as NASCAR in the future.

How can selling to housing developers give you a better position to host big events?

[Marcel ten Caat]

20 May 2005
Rockingham Secures Future as Corby Expands
Racing, Music and Corporate Events to Continue at Corby based Circuit

An agreement has been reached in principle that Corby Developments Ltd (CDL) will acquire Rockingham Motor Speedway Ltd (RMS) from its Holding company, Gerald Forsythe's Indeck. As a result of this purchase CDL will own the Rockingham land and property, which it will in turn be leasing back to the management of Rockingham.

There is now in place an agreement in principle between CDL and RMS on how Rockingham will be integrated into the Priors Hall development, an exciting new Corby housing development, the plans for which will provide a sustainable future for both developments.

To coincide with this proposed transaction the management of Rockingham would buy the business that consists of RMS; the home of Europe's only BMW Performance Centre; and SCSA Racing Ltd; the American style stock car racing championship; which will also continue to be supported by Gerald Forsythe whom retains a keen interest in the racing. To further underpin this commitment, Indeck's Gerry DeNotto will also remain as Chairman of the new Rockingham Company.

Joe Dickinson has led the transformation of the Rockingham business with the goal of creating the best driving experience centre in the UK.

"The core business of Rockingham is to focus on its role as a Performance Experience and Testing Centre. The goal is to create the best driving experience centre in the UK with its partner BMW," said Joe Dickinson.

He added, "Rockingham will continue to build its position as a leading event venue hosting premium motor racing and other sporting and leisure activities."

"We have the potential to create a facility that will be the best in Europe," said Joe Dickinson. "At Rockingham you can experience BMW performance, quality and dynamics to the full as you drive the cars in safety at high speed or experience the thrill of off road driving on the purpose built proving ground. The BMW Performance Centre at Rockingham really is the ultimate driving experience."

In closing Joe Dickinson said: "This is an extremely positive development for all concerned; for our employees; for all our business partners in particular BMW; for Corby and East Northants Districts; in short Rockingham will be in safe local hands committed to creating a sustainable future."

Alfred Buller, Joint MD of CDL said: "We expect that the last seven months of discussions will result in a positive outcome for all parties concerned. We are very excited at the prospect of being able to help and support Rockingham move to its next stage of development. I am particularly pleased as I enjoy cars and motor racing, with my 14-year-old son enjoying success in both race cars and karts. This will be a real landmark deal enabling the Priors Hall development and Rockingham to live side-by-side so as to really lead the exciting redevelopment of Corby."

"The two companies are at first sight unlikely bedfellows, but the logic is clear," Alfred Buller continued. "CDL are about to start one of the largest housing developments ever seen in this country and it sits next to a race track. How to integrate the two - in a park development that has Rockingham and the BMW Performance Centre at one side and a golf course at the other. The type of people that will be attracted to Priors Hall will probably like cars and golf and that will be a key part of our marketing strategy, to provide a unique high quality lifestyle for our residents."

Taken from the Rockingham website.

[Tim Falce]

I have never been there but isn't it in the middle of an industrial park.
If so how would they be able to build houses there?

[Adam43]

You can build industry on it I guess. *goes off to check what country it is in* Oh. Actually the press release does say http://www.autosport-atlas.com/news.aspx?id=44335&g=1

The housing development - called Priors Hall - is to be integrated beside the track with the aim of attracting homebuyers who are motor racing fans.

I like Rockingham. A great place.

I an fearful of this development (no pun intended).
The initial plan seems to safeguard the future, but the principle investment isn't concerned with motorsport. That is now secondary at best. People can now move in and then complain about the pesky motor racing track!

[avro]

This was on our local ITV news last night, and the report ended saying, "This will see the amount of race meetings and noise limited for the local houses", the word limited does not sound like good news for RMS no matter how the housing guys word it.

[nyssa7]

Time for more letters of complaint a la Castle Combe?

[Sheila M]

Rockingham was built on the site of a former steelworks I think and unless the ground was properly cleaned up before the circuit was built I would think that the environmentalists would have a field day on this one. I was given to understand that the cyanide deep down under the surface was still there and that a special membrane had to be placed over it to enable the track to be built. I can't see any respectable housing developer wanting to spend shed loads of money doing another clean up on the ground, can you?

[Speedworx]

The houses are to be built on the land formally earmarked for the Wonderland (or was it Wonderworld)

The track only hosts about 6 major meetings a year now anyway. Not much is going to change.

Below is this years events, which total 13.

1 May 2005 Thunder Sunday at the Rock 1
15 May 2005 MGCC Classic Rock
21/22 May 2005 BMW Power Festival
5 June 2005 Thunder Sunday at the Rock 2
25th June 2005 GT Battle
3 July 2005 Thunder Sunday at the Rock 3
31 July 2005 BRSCC Club Meeting
7 August 2005 Thunder Sunday at the Rock 4
27/28 August 2005 BARC Club Meeting
4 September 2005 Thunder Sunday at the Rock 5
2 October 2005 Thunder Sunday at the Rock 6
8/9 October 2005 BRSCC Club Meeting
11 December 2005 Rockingham Stages Rally

[Al Weyman]

There should be a covernant on every house sold that the owner has no right to complain about the events and activities at the Speedway.

[R59]

More chance of catching leperosy Al!

I'd heard about this one some time back. The developer has been buying shares for some time, and the idea being that housing is worth a lot more than the Rockingham site is, track or no track.

It would be nice to believe that CDL are keen to build the Rockingham site further, with more motorsport technology industry, probably to rival the new developments at Silverstone.

We'll see.

Rob.

[Sheila M]

Originally Posted by Al Weyman

There should be a covernant on every house sold that the owner has no right to complain about the events and activities at the Speedway.

What a lovely idea! Especially as they will be buying the houses in the knowledge that the Speedway was there first!

Bit like buying a house near an airport and then complaining about aircraft noise really isn't it?

[The Fat Clerk]

Happen @ Goodwood in the 60's, I know coz I was there.

[carsreunited]

...... how on earth will they find the people to fill all those houses??!

Even the travellers move on through fear of having their wheels removed from their caravans!

[Snapper Baz]

Sheila M, I work at Biggin Hill Airport which served famously during WW2...guess what...people have moved since and complain big time about aircraft noise!

[Ian Sowman]

Devil's advocate time: one of the biggest complaints about racing in the UK is that there are too many events. Surely losing a circuit - last in, first out - would alleviate that somewhat?

[Peter Mallett]

Originally Posted by Sheila M

I can't see any respectable housing developer

No and I've never seen one either.

[COLIN STUBBS]

ah yes hakkiman i remember wonderworld! used to see it on our way home from racing at silverstone in the late 1980s. in those days the sign had been altered to wonderwhen.......

[R59]

Comment in a press release from Rockingham:

"People who buy the houses will fully know the implications of the noise and won't be able to complain after they have moved in, so Rockingham is not under threat. It will be part of the unique selling point of the place."

Rob.

[Al Weyman]

I may put meself down for one if they are reasonable priced, be a great second home for a motor race enthusiast!

[bastinscully]

What about people who live under heathrow`s flight path or live right next to high speed rail lines,Motorways. They have to put up with the noise nearly 24/7 but they chose to live there. same with a circuit only thats 20 weekends a year.

[ascarracinguk]

yeh but rockingham have been restricted to 6 races a year now

[ghinzani]

Rockinghams such a terrible waste. I recall the excitement I felt going up to that first Cart race, with all the rain delays. Seeing the cars go past at over 200mph was unreal and I really thought we were in at the start of something really big. But for some reason they have singularly failed to deliver. What a waste if its dead and buried in the next few years.