St Albans Poundworld building sold to private investor for £2.75million

PUBLISHED: 15:36 12 February 2019 | UPDATED: 15:43 12 February 2019

The former Poundworld shop has been bought by a private investor. Picture: Aitchison Raffety

The former Poundworld shop has been bought by a private investor. Picture: Aitchison Raffety

Archant

A large vacant retail unit in St Albans city centre has been sold to a private investor.

Chartered surveyors and town planners Aitchison Raffety have announced the £2.75million purchase of the former Poundworld building on St Peter’s Street, on behalf of a mystery private investor.

The buyer is described only as a “local client who owns land to the rear of the property”.

Occupying 534sqm, the site was left empty after Poundworld went into administration in June 2018. It had been trading from the space since 2010 and 16 people in St Albans lost their jobs when the chain went under.

Poundworld was owned by TPG Capital and employed thousands of people nationwide.

Since then, the St Albans building has been listed for rent at £130,000 per annum without rates, service charge, or VAT.

Manager of St Albans Business Improvement District (BID), Helen Burridge, said: “St Albans BID knows that there is vitality, community and also profit to be found in St Albans city centre for the right businesses.

“We’re pleased to have this confirmed by this new investment in this prime piece of real estate and look forward to working with the occupiers to build their brand in our city.”

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