McLaren has confirmed it will build a direct successor to its revered F1-badged supercar of the 1990s, dubbed the Hyper GT, reports Autocar.

The new F1 replacement – codenamed the BP23 by McLaren – will feature the F1’s famous driver-centric three-seat occupant layout and will be designed by the McLaren Special Operations division, the brand’s skunkworks-type division responsible for one-off projects and specialized vehicle development.

Headed by former Caterham design boss Ansar Ali, the MSO division is said to be incorporating many F1 design details as a tribute to the original McLaren supercar. The Hyper GT will thus feature a roof-mounted air-intake scoop and dihedral doors in addition to its F1-inspired seating arrangement.

The Hyper GT – a speculative sketch of which is shown above – is likely to share major elements of its chassis with other McLarens in the lineup, meaning it will feature a carbon-fibre frame with aluminum front and rear subframes.

Power will come from McLaren’s familiar 3.8-litre turbocharged V8, but much like the McLaren P1, this new supercar will integrate a hybrid drivetrain with a battery pack and at least one electric motor. Maximal output is expected to sit somewhere between the P1’s 903 horsepower and the 675LT’s devilish 666 horsepower.

McLaren says its new supercar will be “shrink-wrapped in a carbon-fibre body of great elegance,” and will be an extremely refined grand-touring machine, as its badge suggests.

“The car will deliver the highest levels of refinement, enabling significant journeys to be undertaken with up to three people aboard,” read McLaren’s press release.

Of course, the original McLaren F1 from which the Hyper GT gleans its inspiration was more akin to the P1 than a highly-refined GT — in fact, the original F1 was anything but refined, requiring hearing protection when driven flat-out – but a refined successor to the F1 will be welcomed to the arena of highly desirable exotics nonetheless.

The Hyper GT’s production run will be limited to 106 cars, in keeping with the F1’s limited run of the same number—and every copy has already been sold. Buyers are expected to dish out somewhere in the neighbourhood of £2 million (approximately $3.3 million CAD) before taking delivery some time in 2019.