McLaren has sold its iconic Woking HQ
Don't be sad McLaren fans because the British firm will stay as a tenant for the next 20 years
Due to the financial impact of the COVID-19 pandemic, McLaren has sold its iconic Woking HQ for £170 million to investment company GNL. According to the agreement, McLaren will continue to stay in the premises as a tenant for the next 20 years.
McLaren put its Woking Headquarters on sale in September 2020 and looked to sell it for £200 million. While the British firm wasn't quite able to get the same sum of money, it has secured a £150million loan from the National Bank of Bahrain.
The buyer of McLaren's HQ, GNL, is a real estate company that specialises in sale-and-leaseback deals to tenants.
"We're excited to announce that this world-class facility will become part of the GNL portfolio," said CEO James Nelson. "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.