The McLaren Group is reportedly seeking a sale and leaseback of its Woking headquarters in a bid to further shore up its finances by approximately £200 million.
McLaren, which raised capital earlier this year following the onslaught of the coronavirus pandemic, has mandated property agent Colliers to seek a buyer and leaseback deal for its Norman Foster-designed McLaren Technology Center.
According to Sky News, the group has also appointed Goldman Sachs and HSBC to advise on a further equity raise and debt refinancing expected to take place next year, a strategy that could include the sale of a minority interest in McLaren Racing, the entity that oversees the F1 team.
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“The potential sale and leaseback of our global headquarters and the appointment of banks to advise us on a debt restructuring and equity raise are part of the comprehensive refinancing strategy announced earlier this year,” a McLaren spokesperson told Sky News.
“Building on the shorter-term measures we put in place over the summer, these initiatives will deliver a stronger balance sheet and ensure McLaren Group has a sustainable platform for long-term growth and investment.
“The proposed sale and leaseback mirrors best practice among leading companies and will have no impact on our day-to-day operations.”
“The McLaren Campus, comprising the McLaren Technology Centre, McLaren Production Centre and McLaren Thought Leadership Centre, is an iconic, world-class facility that will remain our home in the future.”