A first phase is already at an advanced stage. David Wilson Homes has completed more than 200 homes on the western site of the racecourse estate. The next phase of residential development in the central area will see the construction of 360 apartments start later this year.
The racecourse had previously planned £13.5m of improvements to racegoers facilities; this has now been expanded to £20m, to improve the track’s prospects as a commercial events venue.
The proposed overhaul includes new reception, bar and dining facilities, a new parade ring and refurbishment of the Berkshire Stand and Pall Mall building to provide improved facilities for both race goers and conference customers
Subject to planning consent being granted, the first phase of the infrastructure enhancements (with an estimated cost of £13.5m) could start in January 2016 and be completed within two years.
Newbury Racecourse still has outline planning permission for a 120-bedroom 4 star hotel from the originally approved application in 2010, but there are no immediate plans to start this part of the project, it said.