After purchasing a property on China Lane in Manchester for £1.6million, online fashion retailer Boohoo is expanding its head office.

Independently valued with completion anticipated to be at the end of February 2016, the £1.6million will be paid in cash.

Commenting, Boohoo said: “The directors of Boohoo (with the exception of Mahmud Kamani, who is deemed not to be independent in connection with this transaction) consider, having consulted with Zeus Capital Limited in its capacity as Boohoo's nominated adviser, that the terms of the transaction are reasonable insofar as shareholders are concerned.”