Escapade Silverstone aims to complete £90m development after securing new credit facility
Unbranded Finance, the UK-based, non-bank real estate lender, has recently closed a new revolving credit facility with Escapade Silverstone to assist with the completion of their flagship £90m development located in the heart of the Silverstone Circuit.
The development, which is set to open in Spring 2024, and is already over 85% sold, comprises 60 Residences and a trackside Clubhouse. It includes a swimming pool, sauna, driver-focused gym, restaurant and roof terrace. Escapade was advised in the transaction by London-based residential and hospitality financing experts, RCP Finance, who were also responsible for arranging the construction financing for another recently completed development at Silverstone.
Escapade Silverstone provides the opportunity for individuals and corporates to own a piece of the world-famous Silverstone venue, home of the British Formula 1 Grand Prix. Two-, three- and four-bedroom residences are available for purchase, all sitting within the 14-acre Escapade Silverstone site. Located just 12 metres from the edge of the track and next to Silverstone’s fastest and most beloved series of corners, the Clubhouse and Trackside Residences have far-reaching views across much of the Silverstone estate.
Unbranded Co-Founder, Oliver Holt, said: “Escapade Silverstone is an ambitious, creative and original concept which has proven to be highly successful. With construction now 70% completed, and only a few properties remaining, it demonstrates the huge demand for this motorsport centric ownership and investment opportunity.
“We were immediately impressed with Will Tindall and the wider Escapade team’s vision and execution of this exciting project. Unbranded remains committed to providing funding for best-in-class borrowers with high-quality property assets like Escapade Silverstone.”
Will Tindall, Founder and CEO of Escapade, said: “The Unbranded team have personal interests in motorsport, deep knowledge of the hospitality sector, and a strong understanding of the project requirements. They have proven to be a highly flexible partner, quick to respond, and a pleasure to deal with at each stage.
“We have now sold over 85% of the properties and are nearing construction completion. We’re looking forward opening in Spring 2024 and being able to work with Unbranded on our future projects”.