One of the largest out of town lettings for nearly a decade on the M42 corridor has been secured by Sunday Times Fast Track 100’s highest ranking fashion firm in 2020 – underwear and apparel brand, Lounge.
IM Properties’ 53,882 sq ft, 1 Blythe Gate is set to be the new UK HQ offices of Lounge Underwear Ltd, further expanding its presence at Blythe Valley Park (BVP), the mixed-use scheme on junction 4 near Solihull.
Retaining its 37,000 sq ft Connexion warehouse unit it moved into in 2019 at BVP, Lounge views 1 Blythe Gate as statement offices to underline its intention for future global growth and team expansion.
Lounge, founded in 2016 by chief brand officer Melanie Marsden, 28, and chief executive officer Daniel Marsden, 29, saw sales surge during the pandemic and Lounge has seen an unprecedented leap in turnover of over 250% to £50m+ in their financial year ending in early 2021.
Jack Humphreys, chief operating officer at Lounge said the move is a statement of intent for its future plans to become the biggest underwear brand in the world.
“Considering the company is only five years old, the number of moves we have already had to undertake to facilitate our growth is insane, which is a great problem to have, but it’s now time to change the game forever.”
“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.”
“We plan to turn 1 Blythe Gate into the office of all offices. Our staff have done amazing things to help us get to where we are, and now it’s time to give back. We are growing an amazing Lounge family full of hardworking and determined individuals and we are ensuring that as we scale, we do not lose the family feel, as our culture has played such an integral role in Lounge’s growth.”
“We originally chose Blythe Valley for its connectivity, amenities and focus on wellbeing. The quality of 1 Blythe Gate is fantastic and on-brand to enable us to create a new lifestyle hub to showcase our business, provide space for product innovation and expand the Lounge family, which should double to 200 employees next year.”
Lounge is positioning itself at the forefront of sustainability in the industry too, utilising new materials including bamboo and recycled lace and yarns to make its product. It also hopes the business will be carbon neutral by mid 2021.
Rob Hemus, asset director at IM Properties added:
“We’ve always been supportive of innovative brands such as Lounge and we’re delighted to assist them in their continued expansion, working alongside them to help facilitate their growth.
“Their decision to move to 1 Blythe Gate highlights how modern occupiers still value the office to stimulate creativity and build company culture in person. And more than ever, they want a location which helps underline their commitment to employee wellbeing and operating more sustainably.
“Our continued investment in BVP is testament to being able to attract some of the region’s most forward-thinking companies and proves that by offering a truly mixed-use environment, we can appeal to a broad range of occupiers including digitally driven ones.”
“Companies like Lounge will play an important role in generating future job opportunities and we’re excited to be supporting their global ambitions.”
Set within 122 acres of parkland, BVP includes offices, industrial, residential and leisure.
CBRE & Savills act on behalf of IM Properties at BVP.