Cushman & Wakefield is advising Europe's largest single price retailer Poundland on the development of a proposed £40 mln (€46 mln) distribution centre in Essex, UK.
Cushman & Wakefield is advising Europe's largest single price retailer Poundland on the development of a proposed £40 mln (€46 mln) distribution centre in Essex, UK.
The new premises, at The Pinnacles in Harlow, Essex, will span 350,000 sq ft (32,500 m2) and operate as Poundland’s main distribution hub for the southeast, serving over 200 stores.
The retailer, which currently has over 450 stores across the UK and Ireland providing a wide range of great products and top brands, will work in partnership with Lynton Developments to redevelop the former Pitney Bowes and GlaxoSmithKline sites and replace all of the outdated buildings with a brand new facility.
Planning consent is currently being sought for the centre which is expected to be operational by 2014.
'Poundland continues to grow its estate rapidly with 70 new stores acquired in 2012/2013 and a further 60 new stores planned for 2013/2014,' said Poundland's national portfolio manager Ben Wall.