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Formula 1

McLaren headquarters for sale, marque wants to lease it back

by Mark Hughes
1 min read

McLaren has put its Technology Centre headquarters up for sale, but intends to lease the site back in a bid to improve cash flow.

The McLaren Technology Centre, known as the MTC, has housed the team and its automotive group since 2003.

With a guide sale price of £200m, this would help ease the cashflow difficulties the company has faced in the wake of the pandemic.

“It’s simply a part of the refinancing strategy, which has been announced earlier in the year of the McLaren Group,” said McLaren team principal Andreas Seidl.

“It doesn’t affect our daily business on the F1 side.”

Mclaren Technology Centre Exterior

The Sir Norman Foster-designed facility in Woking is one of the most visually impressive team bases of all the Formula 1 teams and was built when the team was still part-owned by Mercedes, with visionary input from then boss Ron Dennis.

In June the company secured a reported £150m financing deal from the Bahrain national bank.

The Bahrain sovereign wealth fund owns 56% of the company and the national bank is owned by the same holding company.

In July a plan to mortgage the company’s historic collection of McLarens housed in the MTC was blocked by some McLaren bondholders.

Property Agency Colliers has been tasked with finding a sale-leaseback buyer for the MTC.

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