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Hébergement
The property has been measured by BKR Floor Plans in September 2026 and provides the following Gross Internal and Net Internal Areas:
| Façade brute | 46’9” ft | 14.25 m |
| Façade nette | 45’3” ft | 13.79 m |
| Gross Internal Floor Areas | Pied carré | M² |
| Rez-de-chaussée | 10,310 | 957.8 |
| Premier étage | 8,974 | 833.68 |
| Total | 19,284 | 1,791.48 |
| Net Internal Floor Areas | ||
| Rez-de-chaussée | 9,848 | 914.88 |
| Premier étage | 7,877 | 731.77 |
| Total | 17,725 | 1,646.65 |
The ground floor has been analysed on an In Terms of Zone A (ITZA) basis as follows:
| Pied carré | M² | |
| Zone A | 851 | 79.06 |
| ZoneB | 905 | 84.07 |
| ZoneC | 898 | 83.42 |
| Reste | 7,194 | 668.32 |
A copy of the measured survey is available to download and will be re-addressed to a purchaser at a cost of £1,170 plus VAT.
Mandat
The property is held by way of a long leasehold interest. The headlease was granted for a term of 99 years from 29 September 1987, expiring on 26 September 2086, providing approximately 60 years of unexpired term. The headlease includes an option to renew for a further 26 years to 26e September 2112. The head landlord is Herefordshire Council.
The current head rent passing is £52,250 per annum, geared at 30% of the rental value of the property on an upwards-only basis, with five-yearly rent reviews.
Location
La propriété est louée dans son intégralité à Poundland limitée (Company No. 02495645) on a five-year lease from 28e November 2024, expiring on 27e November 2029. The lease is contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954.
The current gross passing rent is £70,000 per annum, with a contractual stepped increase to £75,000 per annum from 28 November 2027.
The net income after deduction of the head rent of £52,250 per annum is therefore £17,750 per annum currently, rising to £22,750 per annum from 28 November 2027.
We understand the tenant has been in occupation since 2014. A copy of their rent payment history is within the data room. There is currently a positive balance of £38,641.20 on their account.
Frais de service
The passing service charge contribution is £98,277 per annum, subject to a cap of £122,603 per annum (indexed annually by RPI). The service charge budget for 2025/2026 is £111,092 per annum. There is no service charge shortfall obligation on the owner.
The tenant is responsible for insurance, the current contribution being £347 per annum.
Service charge information including service charge accounts and service change budget are in the dataroom.
Valeurs imposables
The property has a current Rateable Value of £108,000 as assessed by the Valuation Office Agency. The rates payable equate to £46,440.
Engagement
The property is let in its entirety to Poundland Limited (Company No. 02495645).
Poundland is one of the UK’s largest variety discount retailers, founded in Burton upon Trent in 1990 and trading for over 36 years. The business sells general merchandise, food, health and beauty, household goods and clothing centred on £1, £2 and £3 price points. We understand the company serves over 20 million shoppers per year and, following the completion of its 2025–2026 restructuring programme, operates from approximately 600 stores across the United Kingdom and Ireland.
Poundland Limited is owned by 1903 Peach Bidco Limited, a special purpose vehicle formed by affiliates of Gordon Brothers Holdings LLC, the US-based restructuring and investment firm. We understand that Gordon Brothers holds approximately 70% of the interest, with Pepco Group N.V., the Amsterdam-listed pan-European value retailer that previously owned Poundland for nine years, retaining a minority stake of approximately 30% as part of the transaction structure. Pepco Group completed the sale to 1903 Peach Bidco Limited on 12 June 2025 for a nominal consideration of £1.
In August 2025 the UK High Court sanctioned a restructuring plan under Part 26A of the Companies Act 2006, following which approximately 150 stores were closed and the trading estate reduced from approximately 800 to approximately 600 units. Drapers Online reported on 8 October 2026 that Poundland confirmed unadjusted quarter-on-quarter like-for-like sales growth of 3.3% (6.4% on an adjusted basis) for the quarter to 27 September 2026, with unadjusted like-for-like sales growing by 6.7% in September 2026 alone. The company’s Managing Director, Barry Williams, was quoted as stating: “Our recovery plan is working.” The restructure is reported as complete.
The most recent statutory accounts filed at Companies House for the year ended 28 September 2025 reported:
| 28 Sep 25 | 29 Sep 24 | 01 Oct 23 | |
| Revenu | £1,549,073,000 | £1,757,021,000 | £1,771,723,000 |
| Pre-Tax Loss | £85,221,000 | £45,843,000 | £680,000 |
| Actif net | -£90,181,000 | £29,893,000 | £90,690,000 |
CPE
The property has an EPC rating of B-48.
T.V.A.
The property has been elected for VAT. It is anticipated that the sale will be capable of being treated as a Transfer of a Going Concern (TOGC).
Proposition
The property is offered for sale by online clicktopurchase® – offers invited. No Reserve.
Please note that a purchaser will be re-charged the costs of searches (£1,434.68 + VAT) and measured survey (£1,170 + VAT) which are provided in the data room.
Veuillez noter que des frais de transaction de 5 000 £ + TVA seront facturés à l'acheteur.
Considérations d'investissement
The property is located within Hereford city centre, a well-connected city with a significant catchment area;
The property is let in its entirety to Poundland Limited on a five-year lease with no break options;
The contractual stepped rent from 28 November 2027 provides guaranteed income growth;
The property is situated within Maylords Orchards, owned by Herefordshire Council, which has secured £22.4 million of Towns Fund investment for the city centre;
Taille de lot attrayante, convenant à une variété d'investisseurs.
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