Underwear company slips into new Midlands HQ
A fast-growing underwear company has struck a bumper letting in the Midlands for its new HQ.
Lounge has taken 53,882 sq ft at IM Properties’ 1 Blythe Gate at Blythe Valley Park, close to Solihull, which will become the company’s new UK headquarters.
IM Properties claims the deal is one of the largest out-of-town lettings along the M42 corridor in almost a decade. The company will also continue to lease a 37,000 sq ft warehouse, Connexion, at the park.
A fast-growing underwear company has struck a bumper letting in the Midlands for its new HQ.
Lounge has taken 53,882 sq ft at IM Properties’ 1 Blythe Gate at Blythe Valley Park, close to Solihull, which will become the company’s new UK headquarters.
IM Properties claims the deal is one of the largest out-of-town lettings along the M42 corridor in almost a decade. The company will also continue to lease a 37,000 sq ft warehouse, Connexion, at the park.
Rob Hemus, asset director at IM Properties, said the letting “highlights how modern occupiers still value the office to stimulate creativity and build company culture in person”.
He added: “More than ever, they want a location which helps underline their commitment to employee wellbeing and operating more sustainably.”
Lounge was founded in 2016 and has seen revenue rocket by some 250% to £50m in its latest financial year.
Jack Humphreys, chief operating officer at Lounge, said: “We moved into Connexion thinking it would last us longer than it has, but 18 months on and we are completely out of office space. Therefore, we now plan to split our HQ and distribution facility into two separate units to create a BVP campus for us.”
CBRE and Savills acted on behalf of IM Properties at BVP.
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Image courtesy of PR
