Personal fairness group TPG in unique talks to purchase McLaren headquarters in Woking: CityAM


Personal fairness group TPG is in unique talks with supercar maker McLaren over the acquisition of the corporate’s iconic headquarters in Woking.

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Sky Information reported that the deal to promote and lease the property, which might enable the automaker to proceed utilizing it, could possibly be value round £ 180million.

The spectacular facility, which homes the corporate’s assortment of traditional automobiles and contains various man-made lakes, in addition to a wind tunnel for testing McLaren automobiles, was designed by famend architect Norman Foster.

Since its opening in 2003, it has turn out to be one of the distinctive units within the automotive business, with many movies together with the “Quick and Livid” franchise.

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McLaren put its headquarters up on the market in September as a part of makes an attempt to consolidate its steadiness sheet, which has been hit exhausting by the coronavirus pandemic.

The automobile firm’s gross sales fell 60 % final 12 months, with the corporate recording a lack of £ 312million. It was additionally pressured to put off 1 / 4 of its employees over the summer time.

Together with the sale of its headquarters, McLaren has already raised £ 185million by the sale of a minority stake in its F1 racing group to MSP Sports activities Capital.

He’s additionally seeking to elevate £ 500million in new capital over the following 12 months. The corporate introduced in Kate Ferry, Discuss Discuss’s chief monetary officer, to handle the rise.

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The transfer sparked hypothesis that the automaker plans to go public within the close to future.

McLaren and TPG declined to remark.

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