How is ownership structured?
You're buying a commercial property under a 125-year Land Registry lease. You can sell this at any time. The freehold owner is the British Racing Drivers Club (BRDC) who also own Silverstone Circuit. You will benefit from income and capital appreciation generated from your property. You will also benefit from use of the Clubhouse and its facilities 365-days a year, even when you're not staying.
Is this a residential property?
This is classed as a commercial property. This means that you can’t use the property as your primary residence. Commercial property of this nature has many tax advantages over traditional buy-to-let residential property.
Isn't it noisy next to a race track?
Although noise is often part of the enjoyment, we recognise the importance of being able to close the doors and have a break from this when you want. Residences have been designed with some of the UK’s best acousticians. This will enable you to relax in your own sanctuary, when you need a break from it all.
With some very few exceptions, all major track activity each starts at 9am and finishes at 5pm.
How many days per year can I use my property?
Escapade is structured to provide both an income to owners alongside personal usage. To achieve this, and have a sustainable operating model, there is a tiered income structure based on usage. After 30 days' usage per annum, the income that you receive diminishes more rapidly. After approximately 100 days usage in a given year, the cost of using your residence will typically outweigh the income you receive from the rest of the year.
Can I get a mortgage or finance the purchase?
We offer a deferred payment option where buyers commit 30% and then nothing further until completion. On completion, the residences are mortgageable under a commercial property facility.
What happens when I'm not there?
Escapade will operate as a hotel and Silverstone will fully manage your property. This is a full end-to-end management offering - meaning there are no costs or time commitments required from you.
What else is there to pay beyond the purchase price?
The only additional cost at the time of purchase is commercial stamp duty. We even include a furniture and fixture package. Once you’ve acquired your residence, there are no ongoing costs or liabilities associated with ownership.