THG close to selling HQ for £250m

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May 14, 2024

Digital retailer and tech specialist THG is close to selling its headquarters in Cheshire for a reputed £250 million, according to a report. The group’s Icon Business Park base, close to Manchester

Digital retailer and tech specialist THG is close to selling its headquarters in Cheshire for a reputed £250 million, according to a report.

The group’s Icon Business Park base, close to Manchester Airport, forms part of THG founder Matthew Moulding’s property portfolio. It extends over 1 million sq ft and includes five industrial units and an office.The site was bought by his holding company Moulding Capital in 2019 with the business park completed in 2021.

The potential sale comes after a loan worth almost £70 million to finance THG's new headquarters was cancelled at the start of the year, Digital retailer and tech specialist THG is close to selling its headquarters in Cheshire for a reputed £250 million, BusinessLive reported.THG first agreed the £67.5 million debt facility with Trafford Council in January 2020. The deal was part of a wider £1 billion capital fundraising Work has not started on THG's new headquarters at Manchester Airport which was planned to have 300,000 sq ft of office space and house over 10,000 members of staff.At the time the debt facility was first announced, the new headquarters was due to be developed by Airport City Manchester.

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THG close to selling HQ for £250m