Private equity group TPG competes for the purchase of Mclaren’s £ 180 million high-tech headquarters in Surrey
The private equity group TPG is in exclusive talks to purchase McLaren’s high-tech headquarters in Surrey.
According to reports, the 124 acre property sale could be worth around £ 180 million.
The Formula 1 team owner and supercar maker has been desperate to close a sale-and-leaseback deal months after the pandemic brought its finances to its knees.
Formula 1 team owner and supercar maker McLaren has been desperate to close a sale and leaseback deal for its Surrey headquarters (pictured) for months after Covid brought its finances to its knees
The agreement allows McLaren to continue using the website while raising valuable money to improve the situation.
McLaren, which belongs to a group run by Bahraini sovereign wealth fund Mumtalakat Holding Company, raised hundreds of millions of pounds from existing donors last year, received a loan from the Bahraini government, cut jobs and sold a minority stake in its racing division.
The main building in the McLaren Technology Center was designed by the renowned architect Norman Foster and was shortlisted for the Stirling Prize.
In 2011 the company added a second building, the McLaren Production Center.
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.