St Albans Poundworld building sold for millions

Millions of pounds have been exchanged in a sale that sees the Poundworld building change hands recently.

Hare Hatch Real Estate Ltd, represented by the estate advisor Savills, sold the site on St Peters Street for £2.1million.

Although it was bought by a private investor, Poundworld’s letting contract will continue.

The bargain shop will still lease the 17,482 sq ft building until 2025.

Ned Jones, investment director at Savills, said: “This prominent retail investment combined an affluent location with a good covenant, attracting strong market interest that resulted in a sale at our quoting terms.”