Private equity group TPG in solo race to buy Mclaren’s £180m hi-tech Surrey HQ
Private equity group TPG is in exclusive talks to buy McLaren’s hi-tech headquarters in Surrey.
The sale could value the 124-acre site at around £180million, according to reports.
The Formula One-team owner and supercar maker has been desperate to seal a ‘sale-and-leaseback’ deal for months after the pandemic pummelled its finances.
Formula One-team owner and supercar maker McLaren has been desperate to seal a ‘sale-and-leaseback’ deal on its Surrey HQ (pictured) for months after Covid pummelled its finances
The arrangement will allow McLaren to carry on using the site while raising valuable cash to help tide it over.
McLaren, which is owned by a group led by Bahrain’s sovereign wealth fund Mumtalakat Holding Company, has secured hundreds of millions of pounds from existing backers over the last year, secured a loan from the Bahraini government, cut jobs, and is selling a minority stake in its racing division.
The main building at McLaren Technology Centre was designed by renowned architect Norman Foster and was short-listed for the Stirling Prize.
In 2011 the company added a second building, the McLaren Production Centre.
McLaren has counted many of F1’s biggest names on its team over the years, including Lewis Hamilton and Ayrton Senna – and its latest star is 21-year-old Lando Norris.