Fast-expanding Poundworld is the latest to take space on Real Estate Investors’ Southgate Retail Park on Normanton Road, Derby.
One of the UK’s leading value variety retailers, with over 300 stores employing more than 6,000 people, it has signed a ten-year lease for 4,259 sq ft at £42,590 per annum.
Ian Clark, senior asset manager at REI, said they had been keen to attract a large national operator.
“This confirms our view that the scheme is well positioned and continues to trade well,” he added.
It is now 100 per cent occupied.
Poundworld was formed in 2004, but has roots in founder Chris Edwards’ home town of Wakefield in Yorkshire, where he first set up his market stall in 1974.
He and son Chris Edwards junior have built a network of stores spanning the length and breadth of the country, dealing in groceries, toiletries, cosmetics, pet care, DIY, toys, stationery and electricals, and serving more than two million customers a week. It has plans to double its store network in the next five years.
Curson Sowerby Partners acted for REI. Legal advice was provided by CBTC Millichips.
