Icon Industrial has sold a 11.6-acre site at Manchester Airport to global online beauty and wellbeing retailer, The Hut Group (THG).
The deal forms part of the first phase of its prime warehouse and logistics scheme.
The developer is set to transform the land into ICON, ’s new £150m logistics and global content creation studio, after Manchester council approved plans for the development.
ICON will deliver 104,000 sq ft of office space over four floors and additional content creation facilities totalling 168,000 sq ft.
Work will start on the new development in June and is expected to be completed by July 2020.
Winvic Construction has been appointed as contractor.
Icon Industrial, a strategic joint venture by leading commercial property developer, Stoford Developments and private global investment firm, TPG Real Estate, acquired 45 acres of land from Airport City Manchester in July 2017.
The JV has recently secured a detailed planning approval for two additional highly specified industrial/warehouse units of 102,500 sq ft and 138,375 sq ft at the site, which is known as Icon Manchester Airport.
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Icon Industrial’s deal with THG is part of the ecommerce giant’s plans for a new business campus at Manchester Airport,
This is phase one of a four-phase development.
The combined ICON and THQ developments are expected to support up to 10,000 jobs.
Dan Gallagher, joint managing director of Stoford Developments, said: “We’re pleased to have completed a deal with The Hut Group, which both parties have worked hard to complete and this secures the third occupier for the scheme.
"ICON is an exciting development that will offer unrivalled airport connectivity and will enable THG to reach a worldwide market.
“Icon Manchester Airport is a rapidly growing global logistics area of Airport City and continues to attract significant demand from potential occupiers keen to relocate here.
"We look forward to delivering what is a prime warehouse and logistics scheme at the very heart of the Northern Powerhouse, making it one of the highest quality logistics locations in the country.”
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Sir Richard Leese, leader of Manchester council, said: “Airport City represents a key opportunity for major economic growth with the potential to support thousands of jobs for Manchester people.
"So it’s with some excitement that we see the rate of progress by The Hut Group and it’s encouraging to see this development move forward with such momentum.”