A redundant racecourse has been bought by its main creditor.

The track at Great Leighs has been sold to a subsidiary of The Royal Bank of Scotland.

Bank spokesman Nigel Owen said: “We can confirm it has been sold to a subsidiary of RBS.

“We are keeping our options open.”

He would not say how much it was sold for but said the bank will be looking to sell the racecourse as one of its options.

The group of companies that owned the track went into administration in January last year.

The £40m racecourse was the first new track in Britain in over 80 years and opened in 2008, 18 months late after being dogged by delays.