McLaren has put its technology centre up for sale for £200m

That's the same price as 10 McLaren F1s today...

6w ago

21.8K

McLaren has just put its iconic Woking HQ up for sale for £200 million during these tough financial times.

This iconic facility houses some of the rarest supercars on the planet and is the same place which produced the ever-growing iconic McLaren F1 which remains one of the best cars ever made.

The British car manufacturer has been making cars at this facility for years, but the time during these uncertain times, McLaren looks to be struggling. The deal they have striked up with property agent, Colliers is a sale-and-leaseback of the McLaren Technology Centre and offers in excess of £200m are to be expected.

To put that price into perspective, that is the same worth as around 10 McLaren F1s at today's current value.

Back in June, the company signed for a new £150m financing facility with Bahrain’s national bank, while 1,200 employees will be made redundant as part of a wide-ranging restructuring.

This is a big loss considering this will account for about a quarter of the Surrey-based firm’s workforce of 4,000.

A McLaren spokesman said: “The potential sale and leaseback of our global headquarters and the appointment of banks to advise us on a debt restructuring and equity raise are part of the comprehensive refinancing strategy that we announced earlier this year."

“Building on the shorter-term measures that we put in place over the summer, these initiatives will deliver a stronger balance sheet and ensure that McLaren Group has a sustainable platform for long-term growth and investment," they continued.

The property that is up for grabs is the The McLaren Campus which is home to the McLaren Technology Centre, McLaren Production Centre and the McLaren Thought Leadership Centre which are some of the best car making facilities in the world.

It's a sad time for McLaren but hopefully they will find a way to get back on their feet in no time and continue to produce some insane cars with insane levels of performance.

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Comments (21)

  • You would have to change your profile picture if they sell it

      1 month ago
  • I feel bad for McLaren. It's a fairly irrelevant Company in the big scheme of things, but on its success rode many people's incomes. On another note though, when I see other manufacturers honking loudly that they have a new supercar model ready to manufacture, I really wonder at the calibre of individuals running these businesses. Self evidently there is limited appetite for spaffing cash on pointless frippery by the world's wealthy at the moment. It tells you a lot about the real thinking behind planetary economics at the moment. On an even more specific point though, the huge investment smaller manufacturers (like McLaren) put into their development programs, to now be trumped by a new technology of which they have but limited knowledge and less experience, must be horrifying. Still, tide and time waits for no man, and formerly rock solid businesses will be swept away as the world moves forward while they cling to the past.

      1 month ago
    • Are you kidding me, don't remember the F1 you know the fastest car in the world and STILL holds the record for the fastest naturally aspirated car in the world more than two decades later. Not bad for an irrelevant company especially when you...

      Read more
        1 month ago
    • So, how actually relevant has that been to your life?

        1 month ago
  • Sad times. And sad times also because £200 m appears cheap, unless they're selling a share?

    I have heard rumours that the original cost of MTC was more than £200m. A lot more.

      1 month ago
    • Nobody is going to pay top money for it. Mclaren are in a corner with no way out so needs must. If they did the sale and lease back 1 year earlier I suspect they’d have got £100m more.

        1 month ago
  • As a Surrey fan, this is sad.

      1 month ago
  • Sign of the times as more and more companies are scrabbling for cash. The mistake McLaren made was the product plan and the release of so many models in such a short space of time, everything is supposedly limited edition! They really needed to focus on quality and supply less than demand which would have protected residuals, something Porsche learned years ago!

    This by the way is only the start as there will be more and more companies scrabbling for cash and then having to fire-sale assets when government cash stops (furlough et al).

    Its sad but a fact of life.

      1 month ago

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