McLaren Group's Woking facility is for sale

McLaren was not spared by the economic crisis linked to the Coronavirus pandemic. Earlier in the year, the British group announced the elimination of 1200 positions out of 4000 in its total workforce, including 70 within the team. F1.

The premium brand then benefited from a financing mechanism worth 150 million pounds sterling (164 million euros) set up by the National Bank of Bahrain, 44% owned by the Mumtalakat sovereign fund of Bahrain, which -same shareholder of the McLaren Group with 56%.

Sky News reported earlier this week that the group had put its Woking facility in Surrey up for sale, with the business press estimating the buildings could attract bids in excess of £200m (€216m). 

Contacted by AUTOhebdo, the group sent us the following official press release in response: 

« The sale and leaseback of our global headquarters and the appointment of banks to advise us on debt restructuring and fundraising are part of a comprehensive refinancing strategy announced earlier this year. 

Building on the emergency measures taken during the summer, these initiatives will enable us to consolidate our financial balance sheet and provide a stable and viable development platform for the McLaren Group in the long term. 

These are proven methods used by the largest companies in the world ». 

The McLaren campus includes the McLaren Technology Centre, the production site and the Thought Leadership conference centre. 

Asked about the sale of the Woking facilities, Andreas Seidl, McLaren team principal, affirmed from Mugello that it would not have an impact on the Formula 1 team.