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FLAT'S CHEAP
Inside Poundland’s first ever block of flats as they hit the market for bargain price in Scotland
The four one bedroom flats have been kitted out with Poundland products and decorated in the brand’s colours of green and white
POUNDLAND has moved into the property market - and is flogging its first ever flats for a lot more than a quid.
Bosses at the bargain chain were forced to take action when one of their Scots stores was in danger of collapse.
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They took the unusual step of buying the entire building and have splashed out more than £1million over the past six years.
Part of the epic job included creating four one bedroom flats, which they have kitted out with Poundland products.
They’ve also been decked out in the brand’s colours of green and white to pay tribute to all the hard work that’s gone into making them a reality in Elgin, Moray.
Two of the properties are on on the market with a price tag of more than £85,000 each. They can be viewed
Poundland spokesman Nick Agarwal said: “We have never done anything like this before. It’s all new.
“We just felt like we had to do something special for the town and the people.
“And of course we’re trying to recoup some of the costs by selling the flats.
“They are unique properties that have a great story, and although they’re obviously going to cost more than a pound they are still great value for money.”
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Back in 2017 concerns were raised about the state of the historic building, which dates back to 1856.
The following year the local council slapped it with a dangerous building notice.
POUNDLAND BEST BUYS
Investigations discovered the damage was far worse than anyone expected and water had been pouring in from the roof unnoticed for decades.
Poundland execs usually lease their shops but for the first time decided to buy the entire block outright.
They worked with conservation specialists to come up with the best option and eventually knocked it down and restarted from scratch.
But they were determined to stick to the original look and style.
Every brick was custom built, while the original chimney pots were put in storage for four years before they were originally put back on the roof.
As the work is almost finished Poundland has had its name etched on the outside as a mark of pride.
Pinny Muir, of LDN Architects, said: “It’s cemented in stone now. That was something I was very passionate about because of all the work that’s gone into this.
“There has been a huge amount of hard work and commitment has been unwavering.”
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The flats have been turned into a showcase for Poundland with everything from £1 picture frames to the £3 cushion covers available in shops.
The fridge is stocked with Irn Bru and Tunnock’s wafers and there are also Pot Noodles in the cupboards.
In the bedroom there are £4 LED Lamps and £1 beauty products, as well as a fake sheepskin rug that costs £6 in the shop.
Gerry McAloon started managing the store in 1993 back when it was home to Woolworths. He can’t wait to reopen this weekend.
He said: “It’s awesome. I feel privileged to be part of it.
“I think it’s amazing that Poundland, a budget retailer, has invested so much into the high street and the community. I think it would have been easy for them to say they were out of here.
“There’s been so much interest. I imagine these flats will go very quickly. They will make great homes.”
Poundland gets stick over its prices being higher than a pound, but management pointed out that more than a third of its goods are still a quid.
And number crunchers worked out that since the chain opened in the nid-1990s items that used to cost a pound should now cost £2.20.
Alan Smallman, Poundland's transformation director who led the Elgin project, said: “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.
"We hope the love we've shown it will be a catalyst for more investment into Elgin and its high
street.
"I'd like to thank the whole team that's helped bring us back home here in Elgin.”
Cllr Marc Macrae, Chair of Moray Council’s Economic Development and Infrastructure Services
Committee said:“I add my congratulations to the Poundland team’s efforts in refurbishing an iconic Moray building and giving the centre of Elgin a much-welcomed boost.
“It’s especially heartening to see the store about to start trading again and hope the staff enjoy
being back in their own building in the busy lead up to Christmas.
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“I’m sure there will be plenty of interest in the flats becoming available and it will be great to see
more residential property being enjoyed in the town centre.
“There is much to be impressed about with this whole project from Poundland.”
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