Lola project - landscape

Lola Mk6 GT Project: November 2019 The Lola Mk 6 GT is one of the most technically significant GT racing cars ever constructed. It provided the Ford Motor Company with the template to create the GT40 in 1964 and indeed the Lola T70, paving the way for everything else that followed. Just 3 cars were built by Eric Broadley in 1963 and happily all survive; with 2 in the United States and the remaining car in Japan. Each Mk6 is highly prized by their long-term owners and as such have become highly valued by collectors worldwide. The last car sold for a figure in excess of $2m back in 2014 and the market has accelerated since then, as the significance of the cars’ place in sports car racing history has finally been realised. In 2000, RH Classics were privileged to rebuild the 2nd example constructed, the 1st ‘production’ car which carried chassis number LGT-1. This car featured at Le Mans in 1963, driven by Richard Attwood and David Hobbs, running as high as 9th, before crashing out due to gearbox issues. Following an extended period in North America, the car finally came home to the UK where it was fully restored by us. On completion of the restoration, the car went on to race successfully, before being sold to a new owner in Japan.

At the time of the restoration, we created a brand-new set of body moulds, as the originals weren’t initially available to us. After some time, they eventually surfaced so we were able to create a ‘composite’ body mould incorporating elements of both the original and new sets. The moulds comprised front & rear clip, central section, including ‘screens & doors, which we retain. Significantly, we also had the foresight to comprehensively photograph the car, before, during and after the restoration was completed, meaning that almost 20 years on, we have access to a substantial photographic archive, giving a unique and comprehensive insight into the construction of the car, above and below the surface. This Lola has for more than half a century been nothing more than a forgotten footnote in racing history and we think that it has sat in the shadows for too long. We believe there’s a fantastic and very timely opportunity to rewrite history and share this beautiful and significant car with a wider audience, both on the race track and indeed for the road…

The cars The three cars originally produced by Lola in 1963 are summarised below; in the form they survive today. The prototype, LGT-P, has been owned by former Shelby American driver Allen Grant since 1965, purchased from Alf Francis of Colotti. Configured as a narrow bodied ‘street’ specification car and still riding on unique, narrow magnesium Halibrand type ‘Kidney bean’ wheels, just as it first appeared at the Olympia Racing Car Show in January 1963. Powered by a Ford 260 mated to a type 37 Colotti transaxle, as originally constructed. The car lives in North America and is the most regularly seen Mk6 on the circuit. The next car is LGT-1, the first production car, seen here as restored by RH Classics in 2000. This car was developed by Ford Advanced Vehicles in Slough and is 289 powered. It differs from its original ‘as built’ specification with the addition of wider rear clip, extra cooling ducts and use of Halibrand magnesium wheels, as fitted to competition Cobra’s and GT40’s in period. This car competed at Le Mans in 1963 and then spent much of its later life in the States, wearing a GT40 rear clip. It was then repatriated to the UK where it was fully restored by us and now lives quietly in Japan, having disappeared from public view. And finally, LGT-2, the car was initially also taken into FAV ownership, sold by Ford and then raced in period by John Mecom Jr, fitted with 5.7 litre Chevrolet power, much to the discomfort of the FoMoCo. It competed at Bahamas Speed Week in 1963 and was a regular fixture in SCCA racing in the mid 60’s in the hands of Augie Pabst and Walt Hansgen, also riding on Halibrand FIA Cobra wheels. Restored in the UK by Hall & Hall and then sold as lot 139 by RM Sothebys in August 2014; the car is also based in North America. A comprehensive history of LGT-2 can be seen on the RM Sotheby’s site. https://rmsothebys.com/en/auctions/mo14/monterey/lots/r167-1963-lola-mk-6-gt/181140

Build Options 1: GT40 Kit based Replica, with Lola style bodyshell: £120k + £10k IVA costs Various engine & gearbox options available, from crate SBF Ford or Chevrolet to bespoke build, using period, date coded parts. This could increase the completed price by up to £30k, subject to final specification. Estimated timeline: 18 months to build Estimated delivery date: Spring 2022 Pro’s ✓ It’s the cheapest option in terms of initial outlay ✓ We can use pre-engineered underpinnings as the basis of the build – possibly Tornado ✓ A ‘GT40’ kit would offer choice on how we specify the car; i.e. brakes, wheels etc Con’s • Potential issues with mating a Lola body to a GT40 monocoque – these remain unknowns at this stage of the project • What would the car be registered as? • IVA registration for road use is an unknown quantity • The completed car could be difficult to sell on • Ultimately, it’s a nice, one off replica, based on a kit car • It won’t be identified as a Lola or anything connected with the factory • It’s likely the completed car would be worth less than the build cost: £100k - £120k

2: RH Classics engineered Re-creation; bespoke chassis: £200k + £10k IVA costs Various engine & gearbox options available, from crate SBF Ford or Chevrolet to bespoke build, using period, date coded parts. This could increase the completed price by up to £30k, subject to final specification. Estimated timeline: 2 years Estimated delivery date: Autumn 2022 Pro’s ✓ The car would be bespoke built and well-engineered, rather than a compromised combination of kit car originating parts ✓ It would be the sole example of its type Con’s • One-off engineering costs would have to be incorporated into the build cost • What would it be registered as? • IVA registration for road use is an unknown quantity • Ultimately, it’s still a nice, one-off replica, albeit bespoke built • It won’t be identified as a Lola or anything connected with the factory • It’s likely the completed car would worth less than the build cost: £120 - £150k

3: RH Classics & Lola engineered Continuation; Lola chassis, registered/badged as a Broadley Automotive Mk6 GT: £150k + £10k IVA costs Various engine & gearbox options available, from crate SBF Ford or Chevrolet to bespoke build, using period, date coded parts. This could increase the completed price by up to £30k, subject to final specification. Estimated timeline: 18 months to build Estimated delivery date: Autumn 2021 Pro’s ✓ It’s a legitimate continuation of the original 1963 production run, carrying a follow-on chassis number of LGT-xxx and will be identified and badged as a Broadley Automotive Mk6 GT ✓ It is highly likely appreciate in value – realistically £250 -£300k, possibly more as an FIA registered competition car ✓ One off engineering costs will be avoided ✓ The completed car will be genuinely rare and desirable ✓ We will deliver a properly engineered car at a one-off, highly advantageous selling price ✓ Play a part in Lola continuation history! Con’s • Not the cheapest option of the 3 scenarios • IVA registration for road use is an unknown quantity • We would need to give consideration to limited series production (of 10 cars or fewer) to make the project financially viable, so the finished car will form part of a very small production run, rather than being truly unique

Toolroom/continuation car market values As this is a rather unique project, we thought it might be useful to give some context to the current market. The below listed cars represent a cross section of similar ‘tool room’ constructed continuations; either road registered or purely track focused, FIA papered cars. In particular, cars with genuine, credible links to the original manufacturer are especially desirable and are valued accordingly. • Superformance GT40 via Le Mans Coupes (Nigel Hulme): £155k + • DB Cobra’s Daytona Cobra Coupe with FIA HTTP: £200k + • Cobra FIA HTP track car (NOT road registered as an AC or Shelby) Class GTS and Period F (not K): £245k + • Gelscoe toolroom Ford GT40 with FIA HTP: £350k + • Safir Ford GT40 Mk V: £250k - £300k • Lola T70 Mk3b brand new continuation cars: £285k plus VAT • Lola T70 Second hand race cars: £400k + • Birrane-era Lola T70’s: £500-£600k • Lola badged T70 continuations from the 1980’s: £750k + • Ecurie Ecosse XJ 13 LM69: £800k - £1m subject to specification Well-constructed, fundamentally period-correct cars are much in demand and can represent a good investment, especially if registered properly; either for the road or as an FIA registered competition car. The upsurge in recent years of tool room Replica’s in historic racing suggests that a correctly built Mk6 GT would be welcomed at key events on the racing calendar, such is the rarity of this pioneering Lola GT.