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Poundland plans commercial property expansion
A number of retail investment property sites may be required by Poundland, after the company revealed plans to open at least 50 new stores.
The discount retailer today (August 19th) revealed its annual profits had soared by 130% and it is now looking for bigger stores.
Chief executive Jim McCarthy has said retail parks could soon see the arrival of Poundland outlets that are larger than their high street commercial properties.
And he stated the growth seen by the company - which sells goods priced at £1 - shows shoppers are keen to find a bargain during difficult economic times.
The potential for further development in this sector could mean other investors are attracted to similar opportunities.
Earlier this year, Poundland revealed it had opened 61 new stores during 2009-10 and would also launch outlets in Northern Ireland.
Branded products sold by the retailer include household names such as Walkers, Tetley, Colgate and Kodak.
Posted by Darren Purse
The discount retailer today (August 19th) revealed its annual profits had soared by 130% and it is now looking for bigger stores.
Chief executive Jim McCarthy has said retail parks could soon see the arrival of Poundland outlets that are larger than their high street commercial properties.
And he stated the growth seen by the company - which sells goods priced at £1 - shows shoppers are keen to find a bargain during difficult economic times.
The potential for further development in this sector could mean other investors are attracted to similar opportunities.
Earlier this year, Poundland revealed it had opened 61 new stores during 2009-10 and would also launch outlets in Northern Ireland.
Branded products sold by the retailer include household names such as Walkers, Tetley, Colgate and Kodak.
Posted by Darren Purse
Thu, 19th Aug 2010