Discount retailer agrees new ten-year lease deal

Discount retailer Poundshop.com has put pen to paper on a ten-year agreement for a new distribution facility in the Black Country.

The retailer has taken up the lease on a 21,463 sq ft unit at the Parkway Industrial Estate, Wednesbury after Harris Lamb negotiated the deal.

Donna Baker, managing director of Poundshop.com, said the expansion of the business had meant the need to find a larger operating base.

“We needed a bigger warehouse in an excellent location to enable us to stock our increasing product range and distribute it to customers with ease,” she said.

“Our new premises is spot on; the site’s ideal setting at the heart of the motorway network, teamed with its extensive size, is precisely what we need as we enter the next phase of our growth.”

Steve Smith, a shareholder in the business, was drafted in because of this knowledge of the sector, having been one of the original founders of Poundland.

He helped to identify what was required from the new premises.

He said: “I worked with Andy Lamb and his colleagues in the early days of Poundland, and he has helped us acquire new warehouse premises over many years. When it became obvious that we had outgrown our previous premises it was a simple call to Harris Lamb to help us relocate. Unit 8 ticks all our boxes in terms of location, size, quality and flexibility.”

Mr Lamb added: “The current lease has a five-year break clause but the length of the lease demonstrates the commitment and confidence that the team has in the business.”