Work set to start on The Hut Group's new £1bn HQ in Manchester after contracts exchanged

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The Hut Group

The Hut Group and Airport City Manchester have exchanged contracts on the online retailer's new £1bn global HQ.

Planning approval has already been granted on the scheme, which is set to eventually extend to 1 million sq ft and support up to 10,000 jobs.

The Hut Group's new landmark base, called THQ, will anchor the site and comprise office space totalling 288,000 sq ft.

Matthew Moulding, founder and chief executive of THG, said: "THQ is a landmark development for THG and another important step in our growth story.

"As we continue to extend our global footprint, it makes sense for us to base our headquarters at Airport City Manchester, with its global connections and access to talent and supply chains worldwide."

Last year The Hut Group, which owns more than 100 beauty and wellness brands including MyProtein, Eyeko, Ameliorate and Acheson & Acheson, reported a 24% increase in group sales to £916m for the year to December 31st 2018.

Enabling works are set to start on site in early summer.