Cheltenham Borough Council has bought the town's Poundland store, as it continues to invest in the town centre.

The authority has purchased a collection of properties, centred on Poundland on the High Street.

By investing in this site, and the Minster Exchange project, the council will support the long-term prosperity of the High Street and the town's ambition to become the cyber capital of the UK.

Cllr Rowena Hay, leader of Cheltenham Borough Council, said: "Strategic investments with regeneration at its heart are vital to protect our local economy, generate income to protect council services and offer long-term assurance that Cheltenham continues to attract investment and punch above its weight.

"We need to continue to find ways to retain and attract more people to Cheltenham's High Street, including younger people, who have a tendency to leave the town and move to other urban areas, which are perceived to be more creative.

"With Cheltenham's ambitions to become the cyber capital of the UK as part of the Golden Valley Development, the arrival of the MX, creating a vibrant town centre quarter and our high street acquisitions, we are confident that the town's economy will continue to grow, thrive and prosper.''

The £3.3m purchase of 232-242 High St (Poundland), 254 High St and 8 St George's Place, means that the council can realise its long-term ambitions to further invest in, enhance and offer creative and viable ways to reimagine the High Street with a mix of retail, leisure and living space.

The council's continued investment in the high street is part of a wider regeneration plan to improve the town centre, support economic growth and employment opportunities. Recent examples include the significant refurbishment of the Wilson Art Gallery and Museum, the work to redevelop Minster Gardens and improvements to Clarence Fountain.

Cheltenham has welcomed many big brands to the town centre in recent years, including the Tivoli Cinema, Brewdog, Taco Bell and Flight Club.