Labour and Liberal Democrat councillors are united in their opposition to the opening of another "low grade" pound shop in the High Street area of Walthamstow, claiming it will be detrimental to the area.

Poundland announced this week that the company will open its second store in Walthamstow at 3-5 Palace Parade – just metres from another branch in The Mall.

The company, which claims to be Europe’s biggest single price discount retailer, has not revealed how many jobs will be created or when it will open.

Labour's High Street ward councillor Clare Coghill said: “Whilst empty shop fronts are not good for the town centre, neither are very repetitive, low-quality, low-grade brands, which we’ve already got plenty of in the town centre."

High Street ward Liberal Democrat Mahmood Hussain said another pound store would not attract business and customers to the area.

“If this goes ahead we have four shops selling 99p stuff, which is slightly oversaturated in my opinion,” he said.

“I welcome anything that brings jobs and income to the area, but Poundland certainly won’t do that.”

Poundland does not need to apply for planning permission for a change of use of the building as it has already been used for retail.

And Cllr Coghill said local authorities needs more powers to control town centres.

“There is no planning application related to the inside of that building,” she said.

“It’s whoever the landlord will lease it to.

"Whether they are money lenders, pound shops or betting shops, in areas like Walthamstow businesses of those natures are going to come forward to make profit.

"If we don’t have the powers to defend our town centres we’re left in a weakened position.”

Poundland’s trading director Richard Lancaster said: “Poundland has grown significantly in the last 12 months and it’s fantastic to see this expansion continuing with a second store in Walthamstow.”