THE leasehold interest in a Hereford city centre Poundland store has been put on the market as uncertainty continues over the future of the discount chain nationwide.
Poundland's owner, Gordon Brothers, is understood to be assessing a range of bids for the retailer after moving away from the main solvent takeover proposal. Reports suggest the chain could enter insolvency, with rival retailers among those interested in acquiring parts of the business.
However, the Hereford store at Maylord Orchards remains occupied by Poundland Limited under an existing lease due to run until November 27, 2029.
Property agents Singer Vielle began marketing the leasehold interest in the premises earlier this month with a guide price of £100,000,
Sales particulars show the investment currently generates a net annual income of £17,750, rising to £22,750 from November 28, 2027, under the terms of the existing agreement.
The sale relates to the leasehold interest in the property rather than the building itself. Documents show the leasehold has around 60 years remaining, together with an option to extend for a further 26 years.
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Located at Unit 47, the store occupies ground and first-floor space within the shopping centre, connected internally by an escalator installed by the tenant.
The marketing particulars describe the unit as being suitable for large-format value retailing, while noting it could, subject to the necessary permissions, be adapted for alternative retail or leisure uses in the future.
The premises sit within Maylord Orchards alongside retailers including Specsavers, Boots Opticians, Warren James, Ernest Jones, Card Factory and EE.
A spokesperson for Herefordshire Council confirmed the authority owns the freehold of the Maylord Orchards Centre and acts as the direct landlord for most tenants within the shopping centre.
Nationally, Poundland operates around 600 stores and employs about 12,000 people. Irish real estate firm Martin Property Group had been identified as management's preferred bidder, but other offers, including proposals for parts of the business, are now being considered.
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