Kempton Park still at risk of closure as developers have option to build houses on famous track until 2030
PARK LIFE Kempton Park still at risk of closure as developers have option to build houses on famous track until 2030
KEMPTON PARK is still at risk of being closed and knocked down for housing.
The Jockey Club announced in January 2017 they were selling off the racecourse to developers in a bid to raise £100 million.
2
Kempton Park has been at risk of redevelopment since 2017
Credit: PA
2
Builders Redrow have exclusive rights to buy the land at Kempton
Credit: Dan Charity
But the track was given a reprieve when those plans hit the buffers in the face of opposition from Spelthorne Council and a number of high-profile racing industry figures.
So the Jockey Club sold an 'option to purchase' to builders Redrow in September 2018, Sunracing can reveal, meaning they can buy the land for development during a set timeframe whenever they want for a pre-agreed price.
The expiry date on the agreement is in 2028, though it can be extended a further two years if Redrow express interest in going ahead with the purchase of the 230-acre site, either in its entirety or part of it.
The Jockey Club has not hidden its desire to sell off land at Kempton for housing to raise much needed funds, and in February 2020 they announced revised plans to develop on part of the site which would not involve demolishing the home of the King George.
But those plans were also scuppered by the outbreak of the Covid-19 pandemic and the Jockey Club remains in a deep financial hole, with the last set of accounts published last summer showing they have around £54 million of debt.
Spelthorne Council said eight years ago the site was unlikely to be considered for housing eight as it was deemed 'strongly performing' green belt land.
But the new Labour government has relaxed planning laws to encourage house building, with the aim to build 1.5 million new homes before the next election.
The Jockey Club dismissed recent speculation on social media that the racecourse was to be closed at the end of next year, but there is a desperate need for housing in Surrey and Redrow is still interested in developing the site, for all they have yet to trigger their option to buy the land.
A Redrow spokesperson said: 'We have an agreement with the Jockey Club to promote Kempton Park for development, lasting until 2030.
'Since this agreement was made, we have been reviewing whether the site, or parts of it, could assist with the delivery of much needed new housing in Surrey.'
The Jockey Club said: "Since 2018, Redrow have had the exclusive right to promote Kempton Park as a potential site for residential development, lasting until 2028.
"Since the agreement came into effect it has been entirely normal procedure for there to be ongoing discussions to see if the site, or parts of it, could play a part in addressing the need for houses in the local area.
"Given the recent changes in wider planning policy, it is no surprise that those discussions are continuing, but in real terms there has been no change in Kempton Park's status.'
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