American Firm Buys Legendary McLaren F1 Headquarters
New York-based Global Net Lease will lease the 840,000 square-foot complex back to McLaren
By Global Motorsports Media Marc AtkinsGetty Images
McLaren has sold its iconic headquarters, including the Formula 1 factory, for almost $240 million to a New York-based real estate investment company. Dog Eat Dog World
Global Net Lease announced the deal earlier this week, revealing that it will acquire the full 840,000 square-foot Woking, Surry, England complex on a 20-year-triple-net lease. A triple-net lease means the tenant McLaren no longer owns the property but pays for all of the expenses. Why should we have all of our money in real estate? McLaren Racing chief executive and American Zak Brown told Italy s La Gazzetta dello Sport media outlet. We are not a real estate company. We are a racing team and automotive company. There is a lot of money in this building and it s not a productive advantage when we want t