The McLaren Group has sold its Woking headquarters to US investors and their facility will then be leased back to the team in the future.
The McLaren Technology Center had been in the market for several months, and real estate company Global Net Lease paid £ 170 million for the 840,000-square-foot space.
McLaren will now have a leaseback contract at its headquarters for at least the next 20 years, which will add funds to the team in the short term after losing significant revenues due to the COVID-19 pandemic in 2020.
“We are pleased to announce that this world class facility is joining the GNL portfolio,” said James Nelson, CEO of Global Net Lease.
“The state-of-the-art buildings at McLaren Group’s headquarters have won numerous awards, were designed by renowned architect Norman Foster, and are the type of mission-critical, net-rented properties that make up the GNL portfolio.
“We are delighted to be working with the McLaren Group’s management team to complete this transaction.
“We look forward to the long-term partnership with McLaren and the benefits this transaction will bring to GNL.”
Stand out from the crowd with McLaren items through the Official Formula 1 Store
This news goes back to the team that in December sold a 15% stake in its Formula 1 operation to the American group MSP Sports Capital, which could achieve a stake of 33% in the future as the team wants to collect donations, in order to be able to keep up with the front line of the field again.
“Just looking ahead now and having all the tools we need is extremely exciting for our racing team and I think we have a very strong future ahead of us,” said McLaren CEO Zak Brown after holding that stake in MSP had sold.
“We also have two top line drivers in Daniel [Ricciardo] and Lando [Norris]and the best engine in Formula 1 with Mercedes Benz, to give us the resources to meet our ambition to move forward again. That is what it means for McLaren Racing. “
The MTC itself houses all of McLaren’s areas of racing, applied and automotive. Ron Dennis commissioned the building in the late 1990s before the team moved there in 2004.
On the track, her progress has continued this year as Norris scored a P3 and P4 result in the first two races of the season alongside the arrival of a proven front-running driver in Ricciardo.
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