Added: ( Jan 2008)
Construction of Valencia F1 Pit Lane in Protected Historical Buildings
Work will commence in the coming months on the Pit Lane for this year's European Grand Prix which will take place in sunny Valencia on the 24th of August. The project has been put out to tender with a closing date of January 31st. The pits and their associated facilities will be placed in 2 beautiful old protected historical buildings called Tinglados which previously were used as port sheds having been used during the America's Cup as an interactive area as well as for parking. In total, two of the port's Tinglados will be used, numbers 4 and 5. Tinglado no. 4 will house the pits proper within a space of 8,545 sqms while Tinglado no. 5 will house the emergency services as well as a medical centre, technical control centre and the office of the race director in a space of 6,971 sqms.
The work must be completed by June the 1st and the race organisers Valmor Sport intend to hold a pre European Grand Prix race to test the new facilities as well as the circuit which should be interesting.
The race will have to take place between June 1st and August 24th. The most expensive seats on the circuit will be those looking onto the pits with seats costing almost €500 for the pleasure. Tickets are expected to go on sale next month.
The Tinglados in the port area are protected buildings and the company that is awarded the contract to construct the F 1 facilities will have to respect the architectural integrity of the structures. Valmor Sport will be ceded the rights to use the buildings yearly for formula 1 with some form of public usage being envisaged for the rest of the year. Heady times ahead for property in Valencia with 2008 being the year that the city's property market will be put on the international map especially F 1 property in particular prime F 1 property looking onto the circuit and the Juan Carlos 1st marina such as apartments on J. .J. Domine St. The dilemma for property owners near the circuit is when to agree terms re the rental of their apartments and at what price.
Interesting times ahead undoubtedly for property in Valencia and here's to Formula 1 remaining indefinitely in the city beyond the already agreed 7 year contract re the city's hosting of the European Grand Prix on what should be a spectacular street circuit to rival that of the only other street circuit on the F 1 calendar namely the much loved Monaco Grand Prix. There is still some excellent Prime Valencia F 1 Property available in the city right on the circuit for this year's "European Grand Prix"
Article by Dermot Quinn, Valencia Property Hound Ltd
