Online firm snaps up one of Manchester city centre’s most prestigious retail sites
One of Manchester’s most successful firms is moving into a key city centre site which was occupied by Jamie Oliver’s restaurant.
The Hut Group has bought the iconic venue in King Street and is planning to open a brand new “contemporary retail and experiential marketing space”.
The firm, which was launched by Matthew Moulding is one of the fastest growing businesses in the UK.
This morning it announced the acquisition of the 12,000 sq. ft. ground floor and basement space within the 100 King Street.
Designed in 1928, by renowned British architect Edwin Lutyens the stunning Grade II listed building was Lutyens’ major work in Manchester.
Built in 1933 it originally housed the Midland Bank with the ground floor used as the main banking hall.
THG acquired the impressive space following a competitive bids process launched in the wake of the collapse of Jamie Oliver’s restaurant chain.
In addition to the former banking hall the firm has acquired the basement space which still comprises the original banking vault and safety deposit boxes.
The Hut Group is carrying out a refurbishment programme whilst being sympathetic to the listed features.
As part of the programme, THG will convert the former restaurant site into a “World of THG” contemporary retail and experiential marketing space designed to showcase the group’s health and beauty brands.
The firm is combining successful online growth with increasing investment in premium retail space at a time when the high street is struggling.
The strategic acquisition of 100 King Street is closely aligned to the group’s recent £50m investment in the King Street Townhouse and Great John Street Hotel and builds on the highly successful acquisition and development of Hale Country Club & Spa in 2016.
Matthew Moulding, founder and chief executive officer of The Hut Group, said: “THG is continuously looking at original ways to deliver the most engaging retail and wellbeing experience.
“The acquisition of the iconic 100 King Street site further expands our innovative marketing infrastructure.
“The development programme to create the World of THG will provide a new and innovative environment for customers and influencers to discover and fully experience our prestigious brands.
“In addition, while continuing to expand our international presence, as a Manchester-born business we’re committed to the North West and growing our employment base in the region.”
The week the firm broke ground on ICON, the new logistics and global content creation studio at Icon Manchester Airport
. The completion of ICON will allow for circa 2,000 new roles to be created across THG’s workforce. Within the next 12 months, THG will be breaking ground on ‘THQ’, the company’s new landmark business campus, which will support up to 10,000 jobs and represents the UK’s largest bespoke office development outside London.
The Hut Group was advised by Land Law & Jenics.