THG has sold its hangar at Manchester Airport, it has been revealed.
The online retail and software giant has struck a deal with private equity real estate firm LCN Capital Partners for the building.
LCN Capital Partners, which has offices in New York, London and Luxembourg, owns buildings let to the likes of Amazon, Unilever and Nokia.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
According to documents filed with Companies House, THG co-founder John Gallemore and legal director James Pochin have resigned as directors of THG Hangar Limited.
In their place, the co-founding managing director of LCN Capital Partners, Brian York Colwell, has been appointed alongside European general counsel Geraldine Copeland-Wright, managing director Ward Stocker and investment manager Fabijan Matosevic.
The financial terms of the deal have not been disclosed.
LCN Capital Partners has over 100 investments in more than 300 properties across 18 countries around the world.
According to its website, the firm has over $3.3bn in equity capital and more than $6.5bn in assets under management.
THG declined to comment when contacted by BusinessLive.
The deal comes after BusinessLive reported that THG co-founder and CEO Matthew Moulding is eyeing a sale of its headquarters.
The group is headquartered at Icon Business Park which forms part of the property portfolio of Mr Moulding.
The site was bought by Moulding Capital in 2019 in a deal estimated to be worth £250m. The business park was completed in 2021.
