Global Net Lease (NYSE:GNL) has finalized the sale of the McLaren Campus in Woking, England, for £250 million ($317 million), marking the conclusion of a massive strategic disposition program.
The deal, closed on Dec. 23, 2025, represents a significant victory for the REIT, which realized a gain of approximately £80 million over its 2021 acquisition price.
The three-building, 840,000-square-foot facility—which serves as the headquarters for the McLaren Group and its Formula One team—was sold at a 7.4% cash cap rate.
This reflects a sharp 210-basis point compression from the 9.5% cap rate at which GNL originally purchased the site in April 2021 for £170 million.
The valuation boost was driven in part by a recent lease renegotiation that saw rental income at the campus climb by 14.5%.
For GNL, the transaction serves as the finale to a 23-month campaign that saw the company offload roughly $3.3 billion in non-core assets.
The program was designed to transform GNL into a "pure-play" single-tenant net lease REIT while aggressively tackling a debt-heavy balance sheet following its 2023 merger with Necessity Retail REIT.