McLaren Sells Ultra-Unique Woking Headquarters for $237 Million – Leases It Back Immediately
If you’re a fan of McLaren’s latest and greatest supercars, then you’ve seen the fruits of the brand’s Technology Centre in Woking, England. As far as automotive headquarters go, McLaren’s custom-made building has always stood out thanks to its sleek design. However, the brand has gone through some financial struggles in recent years, eventually listing this beautiful structure for sale.
According to a new report by CarScoops, the British carmaker has agreed to sell its headquarters for $237 million. However, the carmaker doesn’t plan to relocate in the near future, signing a 20-year lease on the property almost immediately.
What is the McLaren Technology Centre?
While McLaren’s headquarters seems like one massive building, it’s actually split into two. The main building is the aforementioned Technology Centre. This is the beautiful building that houses the brand’s headquarters, main offices. It began construction in the late 1990s, only to open officially in 2003. It is also home to the brand’s Formula 1 team.
The second building, called the McLaren Production Centre, acts as the brand’s factory and assembly line for road cars. This second building began construction in 2010, finishing up shortly after in 2011. This aligns closely around the time when the brand released its MP4-12C supercar. Additionally, the building houses the brand’s wind tunnel, for developing road cars and race cars.
According to CarScoops, both of these buildings are included in this latest deal, totaling around $237 million. As you might expect, this is part of a much-needed influx of cash for the British carmaker. Aside from this sale, Sky reports that the carmaker also took out a $207 million loan from the National Bank of Bahrain last year.
The British carmaker leased the compound back immediately
However, just because McLaren reportedly sold its headquarters, it doesn’t mean it’s moving. In fact, CarScoops reports that the British carmaker intends to sign a 20-year lease on the property. The new owners are said to be Global Net Lease, a U.S.-based real estate company. The goal here is to have the influx of cash go toward new vehicle development and company sustainability.
If you’re up to date with McLaren’s recent financial situation, this latest sale won’t come as a surprise. In fact, Sky reports that the carmaker laid off more than a quarter of its workforce last year, resulting in over 1,200 jobs lost. This was part of a major restructuring plan needed to keep the brand afloat.
The brand’s commitment to stay in business has been relentless. Even going as far as contemplating the sale of its collection of historic McLaren vehicles to fun the company’s latest moves. Thankfully, the future seems to be bright.
What’s next on the horizon for McLaren?
If you want a sneak peek at McLaren’s future, you have to look at the brand’s latest brand-new model, the Artura. Unlike all of its other V8-powered models, the Artura houses a twin-turbo V6 mated to a hybrid system. Aside from delivering hypercar levels of performance, it does so in a much more efficient manner. With emissions regulations getting stricter by the day, the brand will likely continue to adapt to electrification.
