Jaguar Land Rover thought to have Silverstone in its sights

VEHICLE manufacturer Jaguar Land Rover could be poised to make an audacious bid for the Silverstone racing circuit, home of the British Grand Prix.

Reports have suggested the company is in preliminary talks with the Northamptonshire circuit’s owner, the British Racing Drivers Club over the possibility of acquiring the historic site.

The Financial Times said documents passed on to it showed that JLR had been exploring options to secure the lease for the course.

The documents suggest that property consultant Cushman & Wakefield has told the manufacturer that the lease for the circuit, which would include associated industrial units and land for potential development, could have a market value of almost £23m.

The newspaper said it had also seen a memo apparently from JLR itself suggesting a figure of up to £52m – although it is unclear what this bid would comprise.

However, the funding could be part of a scheme to relocate some of the company’s back office and engineering staff. The rapid expansion of the manufacturer is placing a squeeze on existing resources and the need for additional capacity is urgent.

Where the deal stands at the moment is unclear – as is JLR’s full purpose in acquiring the site. The company last raced in Formula 1 in 2004, four years prior to Tata’s takeover of the business from Ford.

There have been rumours around the Grand Prix circuit all season about Aston Martin – JLR’s neighbour at nearby Gaydon – entering into F1 in collaboration with the Force India team. However, nothing has been mentioned about a possible return by JLR.

Nevertheless, the global marketing opportunities offered by Formula 1 would provide JLR with a great platform on which to promote its ever-expanding model range.

The possibility of a new hotel, off-road course and a museum for the 500-strong Heritage fleet have also been flagged as potential options for the site.

No one from the company has so far commented on the Silverstone bid.

Elsewhere, it has been confirmed that JLR has lodged a planning application with Birmingham City Council to convert the former Dunlop Motorsport factory in Castle Bromwich into a new storage facility for its newly-manufactured Jaguars.

The former tyre factory closed last year with the loss of 240 jobs after JLR acquired the lease for the site, which is next to the Jaguar manufacturing centre at Castle Bromwich.

Agents acting for the manufacturer are seeking permission to use the site as a temporary storage facility for two years, together with a new logistics centre.

In a statement supporting the application, the agents said: “Increased production at the (Castle Bromwich) plant has generated an urgent requirement for additional storage for ‘work in progress’ (WIP) vehicles so, in the interim period, JLR is seeking permission to use the northern part of the former Dunlop Motorsports site for a temporary car park for ‘work in progress’ (WIP) vehicles.

“Once the new storage and logistics building is built, it is proposed that parking will be moved to a new multi-storey car park which is planned for the Kingsbury Road site.”

The car park is proposed to accommodate 303 WIP vehicles. WIP vehicles are held at the plant either because they are not completely finished or are awaiting final quality checks against stringent quality controls. In all cases WIP vehicles cannot leave the plant and must be stored securely until outstanding concerns have been addressed.