POUNDSTRETCHER CONTINUES UK EXPANSION WITH ACQUISITION OF RETFORD SITE

Discount retailer Poundstretcher is continuing with its UK-wide growth plan with its latest High Street acquisition in the Nottinghamshire town of Retford.

Fit out of the 11,600 sq ft unit at 14 The Square is set to start imminently.

Retail specialists at property consultancy Harris Lamb identified the opportunity having been retained by Poundstretcher to seek prime high street locations across the country.

Head of Retail David Walton said: “This year has seen Poundstretcher make huge expansion progress across the UK as part of the brand’s aim to launch 50 new stores before the end of 2018.

“Formerly Store 21, this prominent unit is set on the busy town market square, which, along with Carolgate, forms the central retail area of the town. The square enjoys high footfall levels and a high calibre of neighbouring retailers.

“Having negotiated a 10-year lease for Poundstretcher, a full fit out will now take place with the new store launching in the coming weeks,” he added.

Brown & Co in Retford acted for the landlord. Paul White commented “It is really positive for Retford to have Poundstretcher take this building which is a relatively large shop for the town. The town centre continues to perform well.”

The Retail team is continuing with its remit to identify high street locations for the chain to help it achieve its 2018 store opening goals.