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Budget retailer set for Leeds expansion
A budget household goods giant has taken over a 215,000 sq ft Leeds warehouse unit as part of its national pre-Christmas expansion drive.
Fast-growing budget retailer Poundworld Retail Ltd, which has 94 stores nationwide selling 3,000 items at a fixed price of 1, is the new tenant at Axis 62 in Foxbridge Way, Normanton, the largest available unit at the warehousing and distribution base.
The new 10-year lease is part of a major expansion programme which will see the West Yorkshire firm, which was founded in Wakefield and has its headquarters in Birstall, open a further six bases before Christmas.
Mark Ward, Poundworld Retail Ltd operations director, said: "Our policy of selling quality branded goods for a 1 fixed price is extremely popular.
"We aim to expand the business significantly during the next few years and this warehouse unit, which is ideally-suited for the national motorway network, will provide additional storage and administration space to support this growth."
The new base sits near Junction 31 of the M62.
Poundworld Retail Ltd was founded in 1974 as multi-price retailer Bargain Centre, by brothers Laurie and Chris Edwards.
The pair opened their first store in Wakefield.
The first-single-price store opened in 1997 under the brand name Everything's 1 but the company re-branded to Poundworld in 2004 and opened its first shop in Salford, Greater Manchester. Under the current expansion plans, the firm intends to open a minimum of 30 new stores a year for the next three years.
Richard Harris, a partner in King Sturge's Industrial Agency Team, who brokered the latest deal jointly with Ian Greenwood of Carter Towler, said: "This significant deal once again underlines the strength of the M62 logistics market, where there are now no new units available.
"This unit has been taken to support Poundworld's anticipated annual growth of up to 40 per cent.
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