New Poundland site and former M&S store going up for auction

A FORMER Marks & Spencer store which is now Poundland is going up for auction. 

The building on 53-55 Mostyn Street, Llandudno, is going up for auction on February 9 with Allsop. It has a guide price of £1.4million. 

Poundland signed up as a tenant and opened at the former Marks and Spencer satellite store on December 10 2022. Poundland Limited are signed up until 2027.

The Allsop listing states: “Attractive long leasehold shop investment.

“Let on a new lease to Poundland Limited until 2027 (No breaks)

“New enlarged store format opened in December 2022 which includes food and clothes offerings

“Providing 1838.2 sq m (19,786 sq ft) of accomodation

“Well situated close to many established occupiers including Holland & Barett, Lloyds Bank, O2, Boots, Pandora and Waterstones amongst many others.”

Allsop has been informed that Poundland’s recent fit out cost £400,000.

Last year, it was revealed that Welsh developer, Knightsbridge House Estates, part of Bearmont Group and owned by husband and wife duo, Rob and Maria Lloyd, had completed on the former satellite store.

After its closure in 2018, the satellite store had remained empty for years; A bid was previously made by restauranteurs Loungers but fell through.

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The couple, who agreed a deal with Poundland to become tenants, said at the time: “We are thrilled to have acquired this large former M&S department store in an off-market deal in a prime location in the heart of Llandudno. We are constantly identifying commercial opportunities that require regeneration, and are excited to provide vibrant new retail for the local community across two floors of trading.

“As a top tourist destination, Llandudno must keep up with the times, and we’re grateful to support this through our regeneration efforts.”

 

North Wales Pioneer | Llandudno