Rockingham Motor Speedway
Posted: 12th February 2021 | Share
“The team’s intelligence and foresight meant they understood what we want to achieve on site going forward and we believe will deliver the flexibility required to achieve our goals.”
Rockingham remains Europe’s fastest oval racing circuit, and now has planning permission to become a state-of-the-art, specialist automotive logistics hub with additional serviced offices, thanks to a £33 million three-year term loan provided by Leumi UK’s Property Finance team.
The ambitious Rockingham Motor Speedway sees the repositioning of a 340-acre race track and surrounding land into what is planned to be the UK’s premier automotive logistics hub.
Located outside the Midlands transport hotspot Corby, the developers aim to build upon its automotive history and reputation for innovation by providing occupiers with new benchmarks for processes, technology, talent, and services in the automotive sector.
Dan Whiteman, Relationship Manager, Property Finance, at Leumi UK says: “We were delighted to support the team at Rockingham in their plan to position the site in Corby as Britain’s leading automotive logistics hub. This is an excellent addition to our property finance portfolio and represents another step forward for us in our commitment to funding exciting, innovative projects within the UK and Europe.”
Andy Mallin, Chief Business Officer at Leumi UK, adds: “From the start, we understood the potential of this project and wanted to share in the vision Rockingham have for the site. Our custom-built solutions model meant we were able to participate at a level other financiers were not prepared to do. We’re proud to be part of this game-changing development at Rockingham and the surrounding area. Securing a deal of this calibre really highlights the strength of our property finance business line.”
Stuart Wright, principal of Rockingham Group, comments: “Leumi UK has been proactive and supportive of our vision throughout the process. The team’s intelligence and foresight meant they understood what we want to achieve on site going forward and we believe will deliver the flexibility required to achieve our goals. We are delighted to close the refinancing and are grateful to the team for the dedication, enthusiasm and professionalism they have shown throughout the process.”