The Hut Group founder Matt Moulding has sold the Omega distribution centre in Warrington back to LondonMetric for £100m.
In the run-up to THG’s float in 2020, the board signed off on a sale and leaseback deal that saw companies controlled by Moulding take ownership of THG’s commercial properties, which included warehouses, a hotel and a country club.
But while Moulding paid for the properties by cancelling share options he was entitled to as part of the float, he appears to have received payment for the Warrington facility in cash.
Of the £19m in annual rent received by Moulding from THG, £4.1m came from the warehouse.
LondonMetric paid £47.5m for Omega in 2014 and signed a pre-let agreement with THG, which exercised an option to buy it for £53.7m in 2016.
