Poundstretcher to launch in Sheldon further to acquisition of former Store 21 outlet

Harris Lamb has secured a 10-year lease at a Sheldon retail unit in the latest of a string of acquisitions for discount retail chain Poundstretcher.

The business’ Retail department has been providing support to the chain as it rolls out its expansion plans throughout 2018, and is now working on the brand’s January phase, kicking off with the former Store Twenty One on Coventry Road.

Poundstretcher is well on target to launch 94 new stores by April 2019, to take the total number of stores nationwide to 470, with more than 65 having been launched this year – 50 of them having done so between September and December.

The newest store, with a 5,500 sq floor-plate, will be branded Bargain Buys and will launch this month.

David Walton, head of Retail for Harris Lamb, said: “Poundstretcher looks set to eclipse its 2018 success in the coming year. Having completed more than 75 refits this year, the business has already identified a substantial number of opportunities to further roll out the Bargain Buys brand in 2019.

“This is an extremely busy spot and we’re confident that the business will experience high levels of footfall. It is a great opportunity to kick off the year.”

Gerry Loughran, Property Director for Poundstretcher, said: “Having now almost completed its 2018-19 plans, we have formulated our expansion targets for April 2019 to March 2020, aiming to launch 120 new stores within that period.

“We have already identified a significant proportion of these, with the support of our retail partners, and are confident we will have a strong national footprint by the close of 2019 as we drive forward with our commitment to sell everyday products at a reduced price point under our exciting new trading fascia Bargain Buys.”