Poundland is making a move into real estate with the unveiling of its very first apartments for sale in Scotland – but there’s a catch.
You won’t just be purchasing a flat decked out with stylish interiors from the iconic discount store: you’ll be living right above the iconic discount shop itself.
That might sound like the perfect location for superfans, but it’s certainly not for everyone. Could you hack it?
While Poundland’s apartments sadly don’t cost £1 like much of the stock it’s famous for, they do come in much below market price at £85,000.
The £85,000 unit listed on Rightmove is one of four that sit above the new ground-floor shop in Elgin, and has been decorated with pillows, fake plants, wall art and other trinkets from the current range.
‘This charming one-bedroom apartment is perfect for those seeking modern living combined with historical elegance,’ the Rightmove listing reads.
‘The property boasts a contemporary design while retaining the external character of its original architecture. With modern interiors and an abundance of natural light, the flat provides a welcoming atmosphere for both relaxation and entertaining.’
Meanwhile, the second-floor flat has slightly more space at two bedrooms – and is on the market for a slightly higher fee of £105,000.
‘Bringing the building back to life and restoring it to its former glory has been no easy task but we know how much this building means to the people of Elgin and Moray,’ Alan Smallman, Poundland’s transformation director who oversaw the new project, said.
‘We hope the love we’ve shown it will be a catalyst for more investment into Elgin and its high street.’
It’s not just the Poundland flat that’s a first for the brand: the Elgin store itself is brand-new and is expected to open its doors to customers on December 7.
The store has been in the works for six years, and forms part of a major regeneration that has been disrupted by both a major fire in the building and various Covid lockdowns.
Local residents haven’t been locked out of grabbing low-cost bargains entirely though, as while the new home has been built, the town’s Poundland has been housed next to the TK Maxx.
And, before its regeneration, the location was originally a branch of the Royal Bank of Scotland, opening in 1856. However, it was most recently Woolworths, which closed in 2008.
Popular supermarket is building 353 flats in London — but only 10% are affordable
Earlier this year, one popular retailer was given the green light to build 353 new homes for rent in South London, with hopes to prioritise local people in the process.
The John Lewis Partnership is set to transform a site in Bromley – which is currently a Waitrose supermarket – into a sprawling block of flats.
The store will continue to operate, too, so if you end up renting one of these and need to pop down to the shops, there’s one just on the doorstep.
However, as per reports in TimeOut, just under 10% of the homes will be affordable – with 30 of the rentals pledged as such by John Lewis.
Local people will be prioritised for the ‘build to rent’ homes though, and the organisation has said that the scheme will see the local economy boosted by approximately £70 million over the first 10 years thanks to extra income from council tax and spending from residents.
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