HARRIS LAMB ACQUIRES BRIERLEY HILL SITE FOR POUNDSTRETCHER

Harris Lamb has acquired a Black Country high street site for Poundstretcher as the business continues its UK expansion plan.

The discount retail chain aims to launch 50 new stores this year, and Harris Lamb’s Retail team has been retained to identify and acquire sites.

Head of Retail David Walton said: “We’re delighted to have completed the acquisition of a prime site in Brierley Hill on behalf of our client.

“Our remit is to secure sites with sales areas of 5,000-20,000 sq ft, both in town centres and in out-of-town retail parks, and this opportunity, at 58-62 High Street, was ideal, comprising of 9,000 sq ft and occupying a prominent location with access to both High Street and Mill Street – one of the main arterial routes to Merry Hill Shopping Centre.

“With a 70-space car park next to it, and bus stops for the High Street located to the front and back of the store, it’s an ideal location for attracting footfall from visitors to the town centre and en route to Merry Hill,” he said.

Poundstretcher has signed a 10-year lease for the premises.

David added that the team was continuing to identify suitably sites for the chain.

“We’re very flexible – we’ll consider both development sites or existing units ready for occupation, and both leasehold or freehold sites. While A1 planning consent is preferable, it’s not essential if the site is in the right location,” he said.

The Brierley Hill branch of Poundstretcher is expected to open on 21st July.

Contact david.walton@harrislamb.com for more details.