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McLaren sells Technology Centre in leaseback deal

British F1 team McLaren have finalised the sale of their renowned McLaren Technology Centre and negotiated a leaseback deal for the factory. The 840,000 square foot facility based in Woking has been the subject of months of negotiations – however, a deal was announced on Tuesday which sees the factory sold to Global Net Lease (GNL) for £170m and leased back to McLaren over 20 years. It is anticipated that the deal with GNL is to be completed in the second quarter of 2021 and James Nelson, CEO of GNL, is thrilled to have the facility in his portfolio. 'We are excited to announce that this world-class facility will become part of the GNL portfolio,' said Nelson 'The McLaren Group...
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