ONLINE DISCOUNT RETAILER AGREES 10-YEAR DEAL ON WEDNESBURY WAREHOUSE
Harris Lamb has acquired a fully refurbished Wednesbury warehouse on behalf of discount online retailer Poundshop.com.
The retailer has secured the 21,463 sq ft unit at the Parkway Industrial Estate as it grows its operation, having signed a ten year lease.
Donna Baker, Managing Director of Poundshop.com, said that with the expansion of the business, it had turned to Harris Lamb to identify a larger base.
“We needed a bigger warehouse in an excellent location to enable us o stock our increasing product range and distribute it to customers with ease. 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,” she said.
Steve Smith, a shareholder of Poundshop.com and the founder of Poundland Ltd, helped with the relocation of the business to Unit 8, and 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.”
Andy Lamb commented: “It’s been a great pleasure to work with Steve and Donna and I have no doubt that in a few years’ time I will get the call again to acquire warehouse space as this business goes from strength to strength. 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.”