14th November 2017
Phineas acquires new UK head office at The Paintworks
Phineas Group, designers and manufacturers of footwear hangers for the world’s largest brands and retailers, has recently acquired new offices at The Paintworks in the heart of Bristol’s Temple Quarter Enterprise Zone.
The company, which currently trades into 20 countries around the world, has rapidly expanded in recent years, strengthening its customer services, design, tool making, engineering, marketing and sales operations.
To accommodate this growth, the company has acquired the long leasehold interest in Units 7.17 and 7.18 off a quoting price of £575,000.
The new office, located in the Art Deco building that forms the centrepiece of Paintworks, provides 1,978 sq ft of accommodation. As well as delivering larger offices, the move has enabled Phineas to create an in-house retail area to test and showcase its hangers, a dedicated prototyping area with the latest 3D rapid prototyping machinery and a creative space that reflects the brand and its employees.
Dan Wright of Phineas said: “Having experienced two years of rapid growth, our new head office puts us in a very strong position to speed up development of new hanger designs as well as enhance our customer service and supply chain management.”
Tom Dugay of Alder King, who acted for the developers Verve Investments, added: “The Paintworks continues to attract a vibrant mix of occupiers. A growing community of over 50 of Bristol’s most creative and successful companies now call the Paintworks their home.”
Phineas, which represented itself in the transaction, relocated from rented accommodation at One Temple Way.