News Intel begins reducing real estate holdings worldwide — European HQ up for sale, leaving purpose-built Swindon site after more than 40 years

[Admin]

Intel has instructed a commercial real estate firm to sell its European HQ, located in the UK. According to local media reports, the purpose-built offices in Swindon were established in 1982 and consist of 187,000 square feet of office space on a 12.87-acre site.

Intel begins reducing real estate holdings worldwide — European HQ up for sale, leaving purpose-built Swindon site after more than 40 years : Read more

 

[vanadiel007]

It's not looking good at all...

 

[Giroro]

"offers “numerous value-add development opportunities. "
"the site has “strong residential and alternative use potential.”

That's real-estate speak for "The building is complete junk that should probably be torn down"

 

[dalek1234]

When Blackberry ("Research In Motion", back then) did that, after sitting on its laurels thinking it was invincible, ignoring the emerging competition; it was the beginning of the end. They couldn't compete anymore, started to run out of money. To raise some short-term cash, they sold all of their real-estate and leased the offices from the new owners. It didn't help, however.

At their peak, their stock price was around $150 USD, it is around $2 USD. At one point they had the largest market cap out of all companies in Canada. Too big to fail?

Intel's story of complacency, and screw-ups, is very similar.

The thing about selling real-estate and leasing it back, is that over time you will have paid more by leasing it than what you sold it for. It's a short-term gamble that smells of desperation.