An 81 per cent increase in operating profit has seen Poundland decide on a commercial property expansion.
Poundland is planning a major commercial property expansion as it announces bumper profits for the year to March 28th.
The discount chain recorded operating profits of £21.5 million - an 81 per cent increase on the previous 12 months - as cash-strapped shoppers flocked in their droves to its stores.
This strong performance has led to Poundland deciding to open 50 new stores across the country, meaning good news for
property investment firms looking to fill high street commercial developments with viable tenants.
The West Midlands-based company chief executive Jim McCarthy says there is more growth to come, as their market research indicates that the UK could accommodate 800 Poundland stores.
"We get an immediate response when we open a new store and by taking a lower margin than most retailers we build on value rather than profit," he said.
Investors are divided over the future of the UK commercial property market, according to management firm Gartmore, with some predicting a double-dip recession and others further growth.
Posted by Lisa Fear.
Latest News 
