Supercar maker and F1 giant McLaren Group is putting its global £200m UK headquarters up for sale.
In a bid to stave off financial woes caused by the coronavirus pandemic, it is proposing the sale and leaseback of its iconic McLaren Campus.
Property agents Colliers told The National it will be looking to the UAE among other sources for investors.
“It is seeking global investors for the campus,” a spokesperson said.
“The UAE is absolutely one of the places it is looking at as well as other overseas investors.”
The move is part of a restructuring by the group to make it more financially stable, McLaren told The National.
The McLaren Campus is the home of luxury British supercar maker McLaren Automotive, Formula 1, IndyCar team McLaren Racing and technology business McLaren Applied.
It comprises the McLaren Technology Centre, McLaren Production Centre – where the brand’s supercars are hand-built - and the McLaren Thought Leadership Centres.
The buildings are set in 84 acres of landscaped grounds on the fringes of Horsell Common in Woking, Surrey.
The factory's famous Boulevard faces out across the site's main artificial lake and houses cars driven by famous names, including Senna, Prost, Hakkinen, Raikkonen and Hamilton.
"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 that we announced earlier this year," a McLaren Group spokesperson told The National.
“Building on the shorter-term measures that we put in place over the summer, these initiatives will deliver a stronger balance sheet and ensure that 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 is an iconic, world-class facility that will remain our home in the future.”
Earlier this year it had been rumoured that McLaren was considering mortgaging its priceless collection of historic cars which are on display at the Campus.
It has suffered financial losses due to the pandemic affecting sales of its cars and the revenue it expected to gain from its Formula 1 team.
During the pandemic its technicians have helped to develop breathing aids for coronavirus patients.
Robert Campkin, Head of Corporate Capital Solutions for Colliers, told The National this was a "rare opportunity" for investors.
“The proposed sale and leaseback of the McLaren Campus offers a unique opportunity to acquire an award-winning, state-of-the-art, globally renowned and iconic headquarters site, which is let to the McLaren Group,” he said.
“This is a rare opportunity to acquire a high-profile asset in a core M25 location with long-term occupancy of 20 years. Such an iconic campus will undoubtedly be an attractive opportunity for global investors right now.”
When McLaren first bought the 50 hectares of barren land 50km from London it was nothing more than exhausted soil from decades of intensive farming.
It set about creating a purpose-built green ecological and sustainable complex, which in 2010 earned Carbon Trust Standard certification.
The steel cladding, both internal and external, is fully recyclable and its gigantic glass façade ensures it uses sunlight over unnatural light sources.
It has a self-cleaning roof that also uses a high-pressure syphonic drainage system to collect rainwater which is then used to refill the lake.
The lake assists the building’s cooling system by regulating the temperature and decreasing the need for cooling towers.
In 2011 McLaren Racing was announced as the first ever carbon neutral team in Formula 1.
The firm has also planted more than 100,000 trees at the site and created a wildlife sanctuary for otters and kingfishers.
Wenger's Arsenal reign in numbers
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704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
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Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
UAE squad to face Ireland
Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind
Labour dispute
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Result
Crystal Palace 0 Manchester City 2
Man City: Jesus (39), David Silva (41)
Charlotte Gainsbourg
Rest
(Because Music)
UAE currency: the story behind the money in your pockets
The biog
Name: Sari Al Zubaidi
Occupation: co-founder of Cafe di Rosati
Age: 42
Marital status: single
Favourite drink: drip coffee V60
Favourite destination: Bali, Indonesia
Favourite book: 100 Years of Solitude
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Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
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25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
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- Source: Open desert areas with strong winds
Dust storm
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Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
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Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
The alternatives
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• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
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• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
