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Poundworld completes 215,000 sq ft commercial property deal
A commercial property deal has been agreed between Poundworld Retail and Axa Real Estate Investment Managers, it has emerged.
King Sturge brokered the deal along with Carter Toweler and revealed some 215,000 sq ft of warehouse space will be leased by the budget retailers.
Axis 62 in Normanton has been taken on a ten-year lease that includes a five-year optional break clause.
There are a number of offices that sit within the property development and these will be extended prior to Poundworld's move into the site, which is currently undergoing construction work.
Operations director Mark Ward says: "We aim to expand the business significantly during the next few years and this warehouse unit … will provide additional storage and administration space to support this growth."
Poundworld was founded in 1974 and has undergone a number of name changes since then, previously being known as Bargain Centre and Everything's £1, before its current re-branded status.
Posted by Tom Baker
King Sturge brokered the deal along with Carter Toweler and revealed some 215,000 sq ft of warehouse space will be leased by the budget retailers.
Axis 62 in Normanton has been taken on a ten-year lease that includes a five-year optional break clause.
There are a number of offices that sit within the property development and these will be extended prior to Poundworld's move into the site, which is currently undergoing construction work.
Operations director Mark Ward says: "We aim to expand the business significantly during the next few years and this warehouse unit … will provide additional storage and administration space to support this growth."
Poundworld was founded in 1974 and has undergone a number of name changes since then, previously being known as Bargain Centre and Everything's £1, before its current re-branded status.
Posted by Tom Baker
Mon, 6th Sep 2010