Woking Borough Council’s sale of the Victoria Gate site to Surrey County Council has been completed in a deal thought to be worth more than £30 million to the bankrupt authority.

The county will not disclose how much it paid for the former McLaren site but the Local Democracy Reporting Service understands the overall package will bring in about £32.25million, although the split between McLaren’s early surrender of the premises and how much the county paid remains unclear.

Surrey County Council plans to put its Quadrant Court site in Guildford Road, Woking, up for sale in an effort to recoup some of its costs. The county expects staff to relocate to its latest acquisition later this year.

The deal is being seen as good news for Woking council as it hopes to bring more people into the heart of the town centre, and potentially allows it to sell off its Civic Offices.

Woking council leader Cllr Ann-Marie Barker, said: “Asset rationalisation is a key part of the council’s Improvement and Recovery Plan agreed with Government.”