Poundland has taken the former Woolworths store on Glasgow's Argyle Street on a new 10-year lease, at £375,000 per annum.

The property, which comprises 20,000 sq ft of space over the ground and basement floors, will be redeveloped to create a suitable space for Poundland and will be ready for occupation in September this year.

Poundland was represented by CB Richard Ellis (Scotland), while Cushman and Wakefield acted on behalf of landlord Redevco.

Kevin Sims, retail director, CB Richard Ellis (Scotland), said:  "This will be the largest Poundland store in Scotland and a new flagship store for Glasgow.  It is an important acquisition and reinforces Poundland's position as Scotland's leading single price operator."