X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-The world famous Brands Hatch racing circuit is part of a package of four UK circuits now up for sale. The others are Snetterton, Oulton Park and Cadwell Park.

The sale includes a total of 1,050 acres of freehold land with potential long-term leisure and residential development angles. However, the principle value of the business comes from hosting motor racing events, track testing, corporate/retail entertainment days and motor sport activities.

The business is currently owned by The Interpublic Group of Companies Inc, a New York Stock Exchange quoted advertising and marketing communications group. Interpublic has instructed Jones Lang LaSalle’s corporate finance team to sell the properties.

JLL European director Julie Green said: ‘There are many high net worth individuals and companies associated with motor racing who will find this offer extremely attractive. We also believe that the business will appeal to a wider universe of UK and international investors. We have received over 70 enquiries in the pre-marketing period and we are expecting significant additional interest now that we have formally commenced the marketing process.’

Initial bids are expected to be called for at the end of July with the transaction due to be completed in a closed auction in September. JLL will release no asking price because it has not completed the financials on the racing businesses.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.