Four years since launching Ena Mill, the retail outlet in Atherton, near Leigh, owners Simon Yates and Jonathan Addis are about to embark on the next development phase of the former textile mill.
The two business partners recently purchased the Grade II listed mill with the support of a £600k commercial mortgage from Barclays. This represents the start of a new and ambitious development plan to turn the site into a major retail and leisure destination.
In just four years, the ground floor has reached 90% capacity housing over 200 brands including Bon Marche, Pavers Footwear, Roman, Trespass, Regatta, Vantona, Rectella, Farah, Morley, and Yankee Candle as well as a 60 seat Massarella’s Coffee Shop.
Yates and Addis plan to transform the empty first floor into an additional 40,000 ft2 of retail space housing more great fashion brands and a larger, high quality restaurant offering. As well as extending the car park, the pair plan to convert the old Engine Room into a museum and theatre providing a one stop retail and leisure destination for visitors.
Ena Mill currently employs approximately 60 people with a turnover of £5m per annum. The owners expect these numbers to double in the next two to three years.
Simon Yates said: “We have achieved a great deal with Ena Mill in the last four years and now is the right time to take it to the next level. Barclays has demonstrated an understanding of our business, the sector in which we operate, and the opportunities available to us. The team at Barclays shares our massive enthusiasm as we aim to create a truly unique retail and leisure destination.
The new facility was arranged by Barclays led by Stuart Stocks, Relationship Director in Manchester. Commenting on the deal, he said, “Simon and Jonathan have done a remarkable job since launching Ena Mill four years ago in what continues to be a highly competitive market. The business has proven resilient through the cycle and Barclays support has been very much based on our belief in the quality of the management team and the close relationship we have enjoyed over the years. Simon and Jonathan have some bold plans for Ena Mill and I look forward to helping them achieve their growth aspirations in the months and years to come.”