Cheetham & Mortimer, the Manchester-based retail agents, have let a unit to Poundland on Greenside Lane Shopping Centre in Droylsden, the chain's first store in the area.
Poundland has leased a 6,700 sq ft retail unit with a starting rent of £100,000 a year on a ten-year lease. The centre is owned by Crownring and other occupiers include Peacocks, Wilkinsons and Boots.
Justin Mortimer, partner of Cheetham & Mortimer, said: "Poundland's move to Droylsden marks an emerging trend in the retail property market with an increase of value stores appearing. Although the UK climbed out of recession more than a year ago, retailers are seeing dramatic changes in spending patterns as the aftershocks persist. Households are faced with both soaring food and fuel prices and are making more considered purchases by looking to discount retailers.
"Poundland's new store is in an ideal location, providing the principal retail destination for the area and servicing a high-density local population. We are pleased we could assist in securing the new site for them."