Joules to expand into 30,000 sq ft head office

Joules, the Market Harborough high-end retailer, has bought a 30,000 sq ft office building in the Market Harborough for £4.4m.

The property, known as Compass House, is next to Joules’ existing head office location and the deal also includes the adjoining development land and car-parking space. The property will become the firm’s new head office following refurbishment.

The deal will, in part, be funded through a new £3.5m, five-year, term loan facility arranged with Barclays Bank. Joules says it is also extending its existing £25m revolving credit facility with Barclays Bank by 14 months to July 2021.

Colin Porter, chief executive officer of Joules, said: “We are very pleased to announce the acquisition of a new head office in the Joules home town of Market Harborough. Joules is growing quickly and we are confident that this represents another important step in supporting the brand’s long term growth both in the UK and internationally.

“Our skilled and dedicated people are the heart of our business. This move will enable us to bring our head office teams together in a modern and collaborative working environment. We are confident that this will further strengthen our unique culture and brand values as well as enhancing efficiency and creativity.”