Rockingham Motor Speedway has announced its plan to turn into an automotive logistics hub, creating at least 200 new jobs over the next eighteen months.
The new owners, Rockingham Automotive LLP (RAL), a UK investment partnership funded by non-UK resident investors, plans to build on its existing motoring credentials by creating a logistics hub.
Its occupiers will provide a range of de-fleet, remarketing, refurbishment and storage services for the automotive industry, across its prime, 250 acre site and 100,000 sq ft of vehicle processing facilities.
Currently Rockingham is home to a number of leading automotive logistics companies including Groupe CAT, GEFCO and City Auction Group.
City Auction Group’s managing director, Michael Tomalin, said: “We have plans to invest heavily in new facilities to provide market-leading de-fleet and external operational services, alongside remarketing events.”
Closure of the circuit will free up much needed land to further develop Rockingham and over the next three years capacity will extend to process over 20,000 vehicles on site at any one time.
Tomalin said: “Our partnership with Groupe CAT UK, an award-winning provider of automotive logistics services who are also based at Rockingham, will supply us with specialist finished vehicle logistics for all our passenger cars and LCVs.
“We work closely with manufacturers, leasing companies, financial institutions and daily rental organisations to improve and develop our services and the redevelopment of Rockingham as a major vehicle logistics hub will help to accelerate our growth.”
Circuit activities will cease from the beginning of 2019. RAL is in discussion with the two local authorities, Corby Borough Council and East Northants District Council on the future development of Rockingham.