Matt Moulding, chief executive of THG, which owns brands like Lookfantastic and Myprotein, is weighing up the sale of its headquarters, located at Manchester’s Icon business park.
Moulding bought the site through his private company, Moulding Capital, for an estimated £250m in 2019.
The 1 million sq ft headquarters, which is spread across five industrial units and an office, looks set to be bought by a company called SLBI Propco C, managed by property firm ICG-Longbow, according to a report by Warrington Borough Council.
The report said the business park is used as security for a £128m portion of a £202m loan the council gave to Moulding Capital in 2020.
The council proposes to transfer the said £128m portion of the loan from the existing borrower, Moulding Capital, to SLBI Propco C to transfer the ownership of the site.
THG said it would not comment on a Moulding Capital transaction.
However, Retail Week understands it is highly unlikely a possible sale will affect THG as a tenant of the site or have any operational impact.
The move comes after Trafford Council cancelled a loan worth £67.5m to fund THG’s new headquarters earlier this year.
The loan was part of a wider £1bn capital fundraising drive agreed between Trafford Council and THG in January 2020.
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