The grandsons of Newcastle United legend Sir John Hall have invested £420,000 in a new retail store following the rapid growth of their urban fashion firm.
In 2012 John and Greg Hall teamed up with entrepreneur Olly Henderson to launch Capology, a predominantly online retail venture with a store on Newcastle’s Grey Street.
The firm sells a wide range of urban-style clothing including caps, shirts, hoodies, t-shirts, jackets and sunglasses, stocking brands such as Majestic, Mitchell & Ness, 10 Deep, Deadline, Rastaclat and Villain.
Expanding quickly to achieve annual revenues approaching £600,000, the pair found that they needed bigger premises to service demand.
They approached chartered surveying company Bradley Hall, which was launched in 1988 and operates from three sites in Newcastle, Durham and Gosforth.
With the help of Bradley Hall, Capology completed the £270,000 purchase of larger premises in High Bridge Street, Newcastle, and spent a further £150,000 on a major refit and refurbishment of the building.
John Hall said the move will allow the company to add to its 22-strong team of staff as it looks to double turnover within two years.
He said: “Our Grey Street store was not really fit for purpose any more so we approached Bradley Hall to see if they could help us to find premises in a more suitable environment for retailers.
“The High Bridge Street site they recommended is ideal. It has much more retail space and additional areas which we can use to store stock.
“As a result of this move we will create new posts for sales staff and in six months we’ll look to make further additions to our web team.
“Online sales have rocketed in recent months but it’s also important to have a physical presence in a busy retail environment.”
Neil Hart, director at Bradley Hall, said: “In recent months we have helped to relocate several companies that have outgrown their original premises.
“This is a reflection of improving confidence in the marketplace, particularly in the retail sector.
“Companies such as Capology are benefiting from the fact that shoppers have more disposable income than they did during the recession.
“With people more inclined to spend their money, this has given retailers the confidence to invest in property to fuel their future growth.”