Former super car factory is filled after three years

NEW TENANTS The former McLaren factory
NEW TENANTS The former McLaren factory
Jacquie Shaw of the NMRN

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THE former home of supercar manufacturer McLaren has finally been filled, after nearly three years of standing empty.

McLaren used the 40,000sq ft unit in North Harbour to make carbon fibre body shells for its high performance sports cars.

But in December 2009 the firm announced it was closing its Portsmouth factory, with the loss of 93 jobs.

Now the building has been taken over by expanding Havant firm Formaplex after a complicated deal was brokered by Lambert Smith Hampton commercial property agents.

Jerry Vigus, director in LSH’s south coast agency team, said: ‘We were appointed by McLaren Group as sole agents on this property.

‘Due to the lack of available modern industrial and warehouse units available along the south coast, particularly in Portsmouth, we received interest from a number of parties before terms were finally agreed with Formaplex.’

The building was actually the last remaining detached industrial warehouse unit left in the city that was available to rent.

But despite the interest in it, the deal was protracted because of the complexity surrounding the existing lease.

Formaplex’s requirement was for a longer lease term than was actually left on McLaren’s old agreement.

LSH’s building consultants were appointed to advise McLaren Group on getting the building repaired after years of neglect, ensuring that the transaction was concluded in the most cost-efficient way.

Tony Lewis Surveyors Ltd represented Formaplex in the transaction.

Tony Lewis said: ‘This was a protracted and complicated negotiation, and I am pleased that we managed to get it over the line.

‘With manufacturing in decline in the UK, it is good news to be involved with a successful and expanding company such as Formaplex.’