Boohoo tries to offload Happy Mondays studio space at a loss amid acrimonious turnaround plans

Fast fashion retailer Boohoo is selling Marsbro House in Manchester’s Northern Quarter, seeking offers in excess of £3.5m for the 26,000 sq ft space.

Spanning five floors, Marlsbro House is grade two listed, although the agency handling the sale claims this may not be a barrier to redevelopment. A marketing brochure prepared by Sixteen Real Estate and Edwards Property claims the listing could be considered “unjustified” due to the building’s “limited heritage value,” and the number of “substantial changes” that have been made over the years, including the addition of chequerboard cladding.

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“Taking into account the public benefits of a proposed scheme substantially exceeding the current building, it is believed that an application for obtaining listed planning consent for the demolition of the existing property for redevelopment can be justified,” the brochure continues. A neighbouring site on Postal Street is already earmarked for 126 flats by This City, Manchester City Council’s housing delivery vehicle.

Refurbishment of the existing office space or redevelopment into residential or a hotel are among other suggested options available to would-be buyers.

Recognisable by its trademark cladding, the Northern Quarter property last sold in 2020 when Boohoo bought it for £3.7m. Shortly after that transaction Boohoo declared the building unsafe, resulting in the tenants of the former rehearsal rooms and studio, which have played host to the likes of Britain’s Got Talent street dancer George Sampson and The Happy Mondays, being asked to leave.

The decision to sell up comes shortly after Boohoo announced plans to raise up to £39.3m via a share issue to help fund its turnaround after reporting a pre-tax loss of £147.3m in the six months to 31 August 2024. The ecommerce giant is also in the midst of a protracted boardroom spat with largest shareholder Mike Ashleigh’s Frasers Group.

Image: Stephen Richards/Creative Commons

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