THE Royal Agricultural Society of England (RASE) has secured a £50m deal to safeguard the future of its Stoneleigh site.

LaSalle Investment Management will take over responsibility for the management and development of the 1,000-acre site in Warwickshire, which includes the showground and surrounding farmland.

Financial concerns at RASE saw it drop several events in recent years, including the Royal Show and AgriLive Smithfield.

Henry Cator, RASE chairman, said they were confident the agreement would see Stoneleigh Park become “the national hub for agriculture, equine and rural business, research and knowledge”.

He said: “With a commitment to invest £20m by the end of 2012, up to a maximum of £50m by 2020, this is a hugely exciting time for the site, the RASE, Stoneleigh Park and the local economy.”

The site attracts more than 750,000 visitors annually and generates £80m for the local economy.

Andrew Bull, LaSalle’s European director, said: “We would like to see Stoneleigh at the forefront of a rural renaissance in the UK, and held up as an exemplar of the value of the rural economy.

“It has the strong potential to be the hub and showcase for farming’s future.”

The site is home to the national headquarters of the National Farmers’ Union, the Agricultural and Horticultural Development Board and many equestrian bodies.