THG founder sells e-commerce group’s 1 million sq ft airport campus

THG founder Matthew Moulding’s offshire company, Moulding Capital, has announced the sale of the ecommerce group’s 1 million sq ft campus near Manchester Airport.

The sale of the site to RN3 Partners for an estimated £180 million comes around seven years since the site’s inception. The space is now home to around 2,000 of THG staff and the group’s main distribution centre and content studio and will continue to accommodate the group following the sale.

CBRE facilitated the transaction, among the North West largest property deals this year, alongside legal advisors, DWF. Moulding Capital was advised by Gowling WLG in the sale.

Commenting on the sale in a LinkedIn post and reflecting on the changing business landscape since the site was first proposed, Matthew 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….

“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.

“An uncertain world brings opportunities.“

THG was founded in 2004 by Matthew Moulding and John Gallemore as an online CD retailer, and has since grown into one of Greater Manchester’s largest digital businesses. The Moulding family and their charitable foundation are also major supporters of Stockport charity, Seashell Trust. Supported by funding from the organisation, Seashell’s Moulding Foundation Building opened last year offering the very best facilities and equipment for students attending the charity’s specialist school for young people with complex special educational needs.