Moulding’s offshore business sells THG HQ to investor
Matthew Moulding, founder of THG has confirmed that his offshore business Moulding Capital has sold Icon Business Park near Manchester Airport for an estimated £180m.
The colourful and outspoken ecommerce entrepreneur has sold the 1 million sq ft campus to RN3 Partners, a new property investment business.
Joe Rigby, managing director of CBRE, who facilitated the acquisition of what he called “a complex transaction” but “a premier logistics investment” at ICON Manchester Airport, said the deal was “the largest industrial transaction in the North this year!”
On LinkedIn, Moulding said: “Almost 7 years since the first ideas for the site came to mind, our campus is now a hive of activity. 2,000 jobs have been created, bringing c£150m to c£200m of annual income to the region.
“Lockdowns are a distant memory, with most businesses reversing plans and now desperate to get staff together in offices. Logistics buildings are once again seen as the future, especially robotic ones! Phew….
[AuthorRecommendedPosts]“And so, with the global property market stable once again, I agreed to sell the campus, which will continue to be home to THG for many years to come.”
Occupied by the ecommerce conglomerate, the 1m sq ft complex off Sunbank Lane close to Manchester Airport comprises five industrial units and an office.
The CBRE team consisted of Franco Sidoli, Mike Pochin, and Will Kennon, working with legal advisers DWF. James Nichols led the vendor team at Moulding Capital, and their advisors at Gowling WLG.
