Poundstretcher and Argos sign shopping centre leases

Convenience retailers Poundstretcher and Argos have signed new leases for space in two south Birmingham shopping centres from Real Estate Investors, the Birmingham-based property investment company.

Poundstretcher, trading as Bargain Buys, has taken 5,485 sq ft space on a 10-year lease in Maypole, following a lease expiry with Wilkos.

Meanwhile, Argos has signed a new 10-year lease for its 8,000 sq ft premises at Acocks Green.

Ian Clark, asset manager at REI, said: “These deals prove there is a healthy demand for well-located spaces that serve the convenience markets in the neighbourhood retail sector.

“On the new letting to Poundstretcher at Maypole, REI approached the deal with flexibility to ensure that the deal happened.

“Over in Acocks Green, the new lease with Argos shows the company’s commitment to the scheme, proving once again that good locations are bucking the trend.”

The lease in Maypole was advised by Creative Retail acting for REI, while Poundstretcher was advised by Harris Lamb.

In Acocks Green, joint agents BWD and Creative Retail acted for REI, while Argos was advised by KLM Retail.