The 250-acre Rockingham motorsport and speedway track in Northamptonshire is to become an auto-parts logistics hub.
The owners, Rockingham Automotive, say the site will stop racing and be transferred to logistics use at the end of this year.
The move comes as demand for logistics floorspace in the East Midlands continues to surge.
Take-up in the East Midlands in the first half of 2018 was more than 4 million sq ft, equivalent to almost the entire take-up in 2017, data from Savills reveals.
.Rockingham is already home to a number of automotive logistics companies and to car auctions, which will have a role in fleet management and remarketing on the site.