Council part funds tech firm’s HQ

A PRIVATE technology company’s new Manchester headquarters is being supported by a £70 million loan from Trafford Council.

The authority has lent the funds to The Hut Group to allow the firm to build a 300,000 square feet office space and car park facility near Manchester Airport.

The project is set to cost The Hut Group £1 billion, so Trafford Council’s loan is only covering part of the project’s costs.

The loan adds to an extensive property investment and purchase portfolio that saw Trafford Council spend

£153 million in 2019.

With this new loan included, that takes the authority’s overall investment portfolio’s worth up to £223 million.

As with its other purchases and loans, the council expects to make a return on its investment and pump that cash back into public services, as well as economic and job growth across Trafford.

The new headquarters will house over 10,000 staff.

Coun Tom Ross, cabinet member for finance, said: “The council’s investment will support huge job creation and economic growth in a key Greater Manchester location at Manchester Airport.

“At a time when local authority budgets remain under pressure, this addition to the council’s investment strategy is very welcome.”

The Hut Group said: “By partnering with Trafford Council, we can create a broad base of employment across technology, marketing, content, digital commerce and distribution industries in the region.”