McLaren’s Sells and Leases Back HQ 🇬🇧
[4/20/21 /// #acnMcLaren /// Image by: McLaren ] The iconic HQ, dubbed the McLaren Technology Center, is located in Woking, Surrey UK and is home to McLaren automotive, McLaren F1 McLaren Racing and McLaren applied technologies. It also houses both the McLaren production center and development center. After breaking this story back in September, a solution has been worked out finally. The massive 840,000 square foot factory has officially been bought by GNL (Global Net Lease), an American firm, for £170 million GBP ($237 million USD). The transaction includes a 20 year lease to McLaren after the company suffered serious cash issues in 2020. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀
@Alllcarnews industry update
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This sale and leaseback deal helps to deliver a quick financial boost and to capitalize on the massive factory. McLaren also arranged a £150 million loan with the National Bank of Bahrain as well as working with American investors MSP Sports Capital, which bought a significant minority share in the team for £185 million. While fast when they work, McLaren’s road cars have suffered from build quality issues an customer service mishaps. Their products also don’t seem to hold value well on the used market. McLaren was facing bankruptcy earlier in June 2020.
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Text by @allcarnews
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