Joules has agreed to buy a 30,000 sq ft office building in the group’s home town of Market Harborough for £4.4m.
The property is adjacent to Joules’ existing head office, and includes the adjoining development land and car parking space. It will be refurbished to become the new head office.
The deal will, in part, be funded through a new £3.5m five-year loan. The group is also extending its existing £25m revolving credit facility with Barclays by 14 months to July 2021.
The board said the new office will provide the business with the capacity to support its long-term growth objectives.
Colin Porter, chief executive of Joules, said: “Joules is growing quickly and this represents another important step in supporting the brand’s long-term growth 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.”
The retailer also opened a store at 48 Compston Road in Ambleside on 7 July, creating 10 jobs.