Global Net Lease (GNL) is selling the McLaren Campus in Woking for £250m (€286m), representing at a 7.4% cash cap rate.
The site comprises the McLaren Technology Centre, Production Centre and Thought Leadership Centre, located across a three-building, 840,000sqft site.
The NYSE-listed real estate investment trust said that, since its opportunistic acquisition of the McLaren Campus in April 2021 for £170m, it has “negotiated a favourable lease, increasing rents by 14.5%, and significantly enhanced” the property’s value ahead of the sale.
Michael Weil, CEO of GNL, said: “We believe the sale of the McLaren Campus represents a compelling opportunity for GNL to realise a significant premium on the property, with the sale price reflecting a 210bps compression in the cash cap rate since acquisition.
“We plan to deploy a significant amount of the net sale proceeds to meaningfully reduce outstanding debt, which we believe will strengthen our balance sheet, increase liquidity and expand capacity on our revolving credit facility.
“We believe the transaction enhances GNL’s position, providing added flexibility and ample dry powder to pursue attractive strategic initiatives, including opportunistic share repurchases, acquisitions or a combination of the two, that could drive long-term earnings growth while maintaining a disciplined balance sheet and a high-quality, resilient portfolio.”
The transaction is expected to close on or about 22 December 2025.
To read the latest IPE Real Assets magazine click here.
