Real estate company Cushman & Wakefield arranged the 10-year lease between Willenhall based Poundland and the landlord, Deloitte. The store has a 7,000 sq ft ground floor sales area, at an annual rental of £355,000 per annum.
The store was formerly occupied by Gap, now based at the Bullring, which Cushman &
Wakefield retail partner Rob Alston said was evidence that Corporation Street is no longer
a fashion location.
He said: “In the days when House of Fraser was known as Rackhams, this was a key location for the fashion outlets, but this began to change when the Bullring was opened a few years ago.
“We have since seen many fashion chains open outlets there, leaving units in Corporation Street and elsewhere available for other more convenience-type retailers.”