McLaren sells UK headquartersSeptember 11, 2020
For those looking to plunge into the world of commercial real estate with the legendary British Formula 1 team and supercar manufacturer, McLaren could be the lessor.
McLaren has just listed its Woking, England headquarters for £ 200 million ($ 256 million) in an effort to liquidate some assets amid the current financial difficulties caused by the coronavirus pandemic. The sale includes the stunning and iconic McLaren Technology Center, built over a man-made lake and serving as the backdrop for the spin-off of Fast and Furious: Hobbs and Show.
The deal involves a sale and leaseback, which means that whoever buys the property will then be required to rent it back to McLaren. It is part of a broader strategy to bolster the company’s financial performance, which is also expected to include the sale of a minority stake in McLaren’s racing operations. The company took other steps, laying off some 1,200 employees over the summer and taking out a £ 150 million loan from Bahrain’s National Bank.
McLaren today is more than just a racing team. The company produces a range of high-value, high-performance supercars, from the 562-horsepower McLaren 570S to the rare McLaren Senna “Ultimate Series”. Like all great “vintage” supercars, a McLaren F1 costs many times more than any new car is worth, so the McLaren headquarters is only worth a plus or minus a dozen such F1s.
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