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The racecourse "Kerepesi Ügetô" in Budapest was closed in year 2000 and all of its buildings were demolished except the Class II Grandstand which was earlier declared as a National Monument. Our task was on the one hand to perform the comprehensive statical investigation of this Grandstand and on the other hand the development of the methodology for structural strengthening. Investigations included in-situ measurements, laboratory material tests and finite element analysis of the structure. According to the results of statical calculations, the method of strengthening was proposed, which included the injection of cracks, integration of new structural elements, application of concrete jacketing and bonded CFRP sheets. The applied strengthening and renovation method extended the life-span of the Grandstand with 50 years.