Poundland has confirmed the closure of one if its stores in Nuneaton.

The national firm confirmed to CoventryLive that it will be moving out of the store in Queens Road, the former home to TJ Hughes and Woolworths.

It will focus all its attention on the Market Place based branch in the town instead.

Speculation has been rife about who will move into the building, which is owned by Nuneaton and Bedworth Borough Council.

Wilkos needs to find a new home as its current location in Church Street forms part of the land Warwickshire County Council plans to use for the new £19m library, but other businesses could be in the running. CoventryLive has contacted Wilkos for a comment.

What is known is that the decison by Poundland to leave the Queens  Road-based building finally brings to an end the controversial £1 council rent deal.

It was in September 2017 when it was revealed that Poundland Ltd was paying only £1 to use 22 Queens Road, which is owned by the council.

The two-year flexible tenancy was struck by the Town Hall in a bid to keep Poundland in the large building when it was threatening to pull out.

When Woolworths closed, in 2010 the borough council spent £2.6m on buying the lease and completely revamping the store, in order to entice a new big name in – TJ Hughes.

The firm remained in town until 2011, then TJ Hughes left and 99p Stores moved in.

However, when 99p Stores was taken over by Poundland, there was concern that the store would be closed as Poundland had another shop in town, the former Marks and Spencer building in Market Place.

But the council struck the nominal deal rent so it did not risk losing the tenant altogether.

The future for the building

While it is unclear who will be moving into the groundfloor of 22 Queens Road, it was revealed that the empty space above the former Woolsworth store iis going to be transformed into office and business start-up accommodation.

That floor had originally been used when TJ Hughes was located in the Nuneaton and Bedworth Borough Council owned building – but the first floor has been left empty since the firm moved out in August 2011.

As we reported in our newsletter, the town centre is one of more than 100 across England to be given Towns Fund cash from the government – and it will receive the top £1m windfall.

This will be spent on ensuring the first floor can become a new home for offices, which could create dozens of new jobs.

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