Expansive online beauty retailer The Hut Group has acquired 12,000 sq ft of ground floor and basement space within 100 King Street in Manchester city centre.
Designed in 1928, by Sir Edwin Lutyens, the grade two-listed was the long-term home of the Midland, later HSBC, bank in Manchester, with the ground floor used as the main banking hall – this space has more recently housed chain restaurant Jamie’s Italian, which closed in May. Hotel Gotham operates on the upper floors.
THG acquired the ground floor and basement space following a competitive bids process, the deal also including the basement space which still comprises the original banking vault and safety deposit boxes.
The business said that it will “undertake a significant refurbishment programme whilst being sympathetic to the stylish listed features”. As part of the programme, THG will convert the former restaurant site into a “World of THG” contemporary retail and experiential marketing space designed to showcase its health and beauty brands. It said the purchase is closely aligned with THG’s recent £50m investment in the King Street Townhouse and Great John Street boutique hotels.
Founder and chief executive of THG Matthew Moulding said: “THG is continuously looking at original ways to deliver the most engaging retail and wellbeing experience. The acquisition of the iconic 100 King Street site further expands our innovative marketing infrastructure. The development programme to create the World of THG will provide a new and innovative environment for customers and influencers to discover and fully experience our prestigious brands.”
THG recently broke ground on ICON, its logistics and global content creation studio at Airport City. It was advised on the King Street deal by Land Law and Jenics.