McLaren sells factory for huge amount to American real estate company
McLaren F1
F1 News
- GPblog.com
At McLaren, it was already known in 2020 that they had suffered major financial damage due to the coronavirus cpandemic. Last year, part of the shares were sold to American investors and now McLaren has taken the next step. The iconic factory with a futuristic look has been sold for a huge amount, but McLaren will continue to produce there.
For almost 200 million euros McLaren has sold the factory to the American Global Net Lease, reports Motorsport.com. The deal was recently announced and is now being finalised. Part of the deal is that McLaren leases the building of almost 80000 square meters, so they do not have to move.
Focus on 2022
So the home base will remain in Woking, although ownership of the impressive building will no longer be in the hands of the British car brand. So with the deal, McLaren will get a big injection of money, which they can use to build the future of the company again. McLaren will stay in the factory by leasing the building for the upcomming 20 years
The plan to sell the factory has been on the table for a long time. With the confirmation that McLaren is selling the property, the focus of the British team on the financial side can now turn to 2021. McLaren will be very much looking forward to the rule changes, where it is expected that the field will be shaken up. With this financial support, an important step will be taken.