3 May 2021
McLaren Group sells and leases back Woking HQ
LUXURY automotive, technology and motorsport company McLaren Group has agreed the sale of its Woking headquarters to Global Net Lease (GNL) for a total of £170 million.
As part of the transaction, the group has agreed a 20-year lease with GNL, a $4 billion real estate investment trust publicly traded on the New York Stock Exchange.
The McLaren Campus – which includes the McLaren Technology Centre, McLaren Production Centre and McLaren Thought Leadership Centre – will remain McLaren’s global headquarters.
The sale-and-leaseback process was first announced towards the end of last year as part of the group’s comprehensive refinancing strategy and to ensure the most efficient use of capital.
The proceeds from the transaction will be used to reduce the group’s leverage and to underpin the group’s strengthened financial position.
The deal is expected to be completed by the end of the month.
Credit: Woking News and Mail
