THE WHAT? The sale of Icon Business Park, home to THG’s headquarters, to ICG Real Estate has fallen through. Owner, THG Co-founder Matthew Moulding, had agreed to sell the property for £200 million in a sale/leaseback deal.
THE DETAILS Talks took place between the two companies over the summer and approval for the novation of a loan secured against the property was granted by lender, Warrington Borough Council.
THE WHY? While both parties declined to comment when approached by Fashion Network, the Financial Times suggests that the pair failed to reach an agreement, attributed to ‘a movement in the commercial view of the interested parties’.