Newbury Racecourse Deal Signed

19 September 2012, 13:55 | Updated: 19 September 2012, 14:13

A deal's been signed to develop Newbury Racecourse - with around 1500 homes built over the next 10 years.

Property Developers David Wilson Homes (DWH) has bought up land on its western, central and eastern sites.

As part of the deal DWH will pay the racecourse £46.6 million during the course of the programme.

Work will start in the Autumn to create a centre course car park to be used by annual members and premier customers. This will be followed by the first phase of housing on the western side, with homes on sale from 2013.

A large part of the racecourse refurbishment programme will take place in 2013 and 2014 with the next phase of housing starting the year after that.

Newbury Racecourse say 30% of the housing will be affordable, there'll be investment in the road network, bus and rail routes as well as a contribution towards school education and healthcare.

Improvements for race-goers include new landscaping, a new parade ring and a better range of food outlets. There'll also be refurbished stables, new accommodation for stable staff and a new car park and entrance for trainers and horse owners.