The owners of Rockingham Speedway announced their plan to develop a market-leading, 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 plan to build on Rockingham’s motoring credentials, by creating a logistics hub, where its occupiers 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 City Auction Group, Groupe CAT and GEFCO. These companies provide a range of used vehicle support services to car manufacturers, dealer groups, rental, fleet operators and leasing and finance companies.
From 2019, Rockingham is set to become a world-class automotive facility, with the capacity to process over 20,000 vehicles on site at any one time. The redevelopment will create new jobs across management, sales, administration, HR, technology and finance. Significant investment over the next three years will redevelop and extend the facilities to store, prepare, de-fleet and remarket a greater volume of vehicles.
Michael Tomalin, Managing Director of City Auction Group commented: “We are very excited about the future of CAG at Rockingham. We have plans to invest heavily in new facilities to provide market-leading de-fleet and external operational services, alongside remarketing events. 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. The redevelopment of Rockingham as a major vehicle logistics hub will help to accelerate our growth.”
All motorsport events scheduled to be held till the end of 2018 will run as planned, but 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.