Sterling deal for Poundworld in Middlesbrough

26 September 2016

Poundworld, one of the UKs fastest growing discount retailers, has signed a new 10-year lease at the Cleveland Centre in Middlesbrough where it will open its doors later this year.

The retailer will occupy Units 5, 7 and 9 in the Centre Mall over two floors: 5,850 sq ft on the ground floor and 4,000 sq ft on the first.

Poundworld is a British single price variety store that sells most of its items for 1. Its product range consists of groceries, health and beauty, toiletries, cleaning products and pet care; it serves more than two million customers every week and employs 6,000 people nationwide.

In contrast to many high-street retailers, Poundworld has maintained strong sales and growth since the global recession that started in 2007. With over 300 stores across the UK, it aims to accelerate its store expansion programme and double in size over the next five years.

Alison Gurney of Waypoint Asset Management worked on the deal with retained agents Lunson Mitchenall.