McLaren Puts Its Headquarters Up for Sale for 256 Million Dollars

Hit hard by the ongoing coronavirus outbreak McLaren, Canadian real estate firm Colliers headquarters for $256 million commissioned him to sell it. Making the statement, team CEO Zak Brown said that McLaren will sell its state-of-the-art Formula 1 centers to raise cash and reduce company debt, and then move forward on a long-term basis. will rent he said.

Answering journalists' questions in a Zoom conference before the Tuscan Grand Prix held in Mugello, Italy, on Saturday, Brown said: a simple financial app He said it was.

McLaren wants to direct revenues to its core business:

Pointing out that McLaren is an automotive company, CEO Brown said; in england 500,000 square meters for the McLaren Technology Center located in an area “Why does so much money have to do with real estate? We are not a real estate company, “We are a racing team and automotive company.” he said. Brown also stated that the company has a lot of cash tied up in the building in Woking, Surrey, and emphasized that this is not a very efficient use of funds when you want to invest in your business.

The sports car manufacturer is already influencing the whole world. Covid-19 It was hit hard by the pandemic, with sales falling and production halting early in the year. So much so that the company, in May 2020 1,200 people laid off his job and only worked between February and May. 307 He announced that he could sell cars. The group also acquired from Bahrain National Bank last June. 150 million dollar It also provided a financing opportunity.

We should also point out that McLaren will not go anywhere after the sale and will remain in Woking. According to the agreement, the person or company that purchased the center for 256 million dollars will repossess the property. Will lease to McLaren. Issues such as how long the company will rent the property or how much it will pay monthly were not shared with the public.