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McLaren Sells Iconic Woking HQ, but Will Rent It Back from the New Owners
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McLaren Sold Its Iconic Woking Headquarters For $237 Million
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McLaren sells its Woking, England, headquarters for $236 million
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McLaren agree to sell MTC in £170m leaseback deal
20 April, 2021
McLaren has agreed to sell its Woking-based factory, the McLaren Technology Centre, to American firm Global Net Lease for £170 million.
The deal, which has been in negotiations for months, was announced on Tuesday and will see the MTC leased back to the team in a 20-year deal.
“We are excited to announce that this world-class facility will become part of the GNL portfolio,” GNL CEO James Nelson said.
“The McLaren Group Headquarters’ state of the art buildings have won numerous awards, were designed by renowned architect Norman Foster, and are the type of mission-critical, net-leased properties that make up the GNL portfolio.
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NEW YORK, April 20, 2021 /PRNewswire/ Global Net Lease, Inc. (NYSE: GNL) ( GNL or the Company ) announced today
1 that the Company has agreed to acquire a three property office and industrial campus in Woking, Surrey, England that serves as the world headquarters for McLaren s Automotive, Racing, and Applied divisions (the McLaren Group Headquarters ). The contract purchase price for the combined 840,000 square foot campus is £170 million with a 20-year, NNN lease. The transaction is expected to close in the second quarter of 2021. We are excited to announce that this world-class facility will become part of the GNL portfolio, said James Nelson, CEO of GNL The McLaren Group Headquarters state of the art buildings have won numerous awards, were designed by renowned architect Norman Foster, and are the type of mission-critical, net-leased properties that make up the GNL portfolio. We are very pleased to have been able to collaborate