St. Modwen, the UK’s leading regeneration specialist and owner of Queensmead shopping parade in Farnborough, has signed a deal with Poundland. The discount retailer has taken an 11,500 sq ft unit, formerly occupied by Woolworths.
The news comes shortly after Sainsbury’s began fitting out its new 62,000 sq ft unit store in The Meads in Farnborough town centre. Speaking about the deal, James Stockdale, Development Manager at St. Modwen, said: “It is excellent to see that some of the country’s best performing retailers are choosing Farnborough as a base and we are excited to welcome Poundland to the fold.”
Poundland, which has recently been making headlines for its strong performance, will take possession of the unit in October and will open for trading in November. Poundland’s arrival will add even further variety to Farnborough’s retail offer and is set to draw shoppers to the town centre.
James Stockdale continued: “This move is testament to the emerging popularity of Farnborough as a shopping destination. With a 77-bed Travelodge hotel soon to open and Sainsbury’s beginning to trade shortly, the regeneration of the town centre is in full swing. It is excellent to see national retailers continuing to recognise Farnborough’s potential.”
Poundland’s Trading Director, David Coxon, said: “We’re absolutely thrilled to be opening a store in Farnborough, creating around 30 jobs and great shopping opportunities. I’m sure the savvy shoppers in the area will be delighted by the amazing value that Poundland offers.”
Notes to Editors:
St. Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of seven regional offices and a Birmingham based head office. The company is wholly focussed upon regeneration with expertise in brownfield land renewal, partnering with industry, town centre regeneration, Innovation Centres and education projects. www.stmodwen.co.uk
The redevelopment of Farnborough town centre is being undertaken by Key Property Investments (KPI), a 50:50 joint venture between St. Modwen Properties PLC and Salhia Real Estate Company.