A new "bigger and better" Poundland is on its way to Kent after the sale of a retail park for more than £11 million.

The owners of Neats Court, Queenborough, Sheppey, have sold the bulk of the site and it means the household discount store, GHM! (Guess How Much) which only opened last June, will shut next month when Poundland will move in, closing its neighbouring store.

Both brands are now part of the same group, following the September takeover of Poundland by Steinhoff – a South African retail firm.

Because of this, all six British GHM! stores will be converted into Poundlands over the coming months.

However, bosses say the new combined store will become a “bigger and better” Poundland and it will continue to sell GHM!’s Pep&Co clothing.

The news comes it was announced Neats Court owners, LXB Retail Properties, has sold most of the site for £11.3 million.

The retail section, comprising of Sports Direct, B&M, Iceland, The Original Factory Shop, Cancer Research, GHM and Poundland, has been taken over by Lightstone Neatscourt LLP.

LXB will continue to own the latest phase of the development comprising the Marston’s pub and under-construction food and retail section.

Costa Coffee, Burger King, Subway and Starbucks have already signed up for this.

Tenants for the remaining three units are still being sought, but the scheme is scheduled for completion in June.

A GHM spokesman said: “Now we’re all part of the same group, it makes sense to integrate the small GHM pilot into Poundland.

“We’ve had an absolute ball – it’s been great serving and getting to know you all since we opened"

"See you soon in our sparkly new Poundland – don’t forget, come in and bag a bargain.”

The GHM store is set to close for its “makeover” in mid-March and the current Poundland store will close soon after.

The closing down sale started at GHM last Friday , with up to 75% off selected homeware and toys.