Global Net Lease To Sell McLaren Campus In £250 Mln Deal

Global Net Lease

7.08 EUR 0.11%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Global Net Lease, Inc. (GNL), a net lease real estate investment trust, said on Monday it has agreed to sell the McLaren Campus in Woking, Surrey—an 840,000-square-foot, three-building property comprising the McLaren Technology Centre, Production Centre and Thought Leadership Centre—for £250 million at a 7.4% cash cap rate.

"We believe the sale of the McLaren Campus represents a compelling opportunity for GNL to realize a significant premium on the property, with the sale price reflecting a 210 basis-point compression in the cash cap rate since acquisition," said Michael Weil, CEO of GNL.

The company acquired the site in April 2021 for £170 million and has since boosted its value by securing a favorable lease and raising rents by 14.5%.

GNL has received a £23.9 million non-refundable deposit, and the transaction is expected to close around December 22, 2025.

The company plans to use a large portion of the proceeds to reduce debt and strengthen liquidity and increase borrowing capacity on its revolving credit facility.

Global Net Lease shares closed Friday's trading at $8.11, down 0.25%.