A Poundland up in an exclusive London suburb and replacing a Foxtons estate agents has been blasted a "disaster".
The arrival of the budget shop has sparked a row with some worried that it will bring down house prices, while it has also been described as a sign of the times in the cost of living crisis.
"Not everyone who lives in Dulwich is loaded and doesn't have to worry about bills or heating their homes," said one.
The shop in upmarket Lordship Lane, East Dulwich, is due to open this weekend - part of an expansion that includes 50 new stores.
The average house price in the area is just over £1m, ironically according to Foxtons.
Bosses at Poundland have said the store is part of a huge rollout - while admitting its arrival in East Dulwich has caused something of a "hoo-ha."
They even put up special hoarding taunting angry locals, with signs saying: "Reverse gentrification? Here's a few Poundland facts to help stop the hand-wringing."
It will be sandwiched between foodie pubs, artisan bakeries, sushi restaurants and independent stores and will create 12 new jobs.
Poundland is known for its cheap deals, selling everything from food and drink to kitchen goods.
Streets nearby can see houses going for several million and Boris Johnson and his wife Carrie chose to make their first home together in nearby Camberwell - just a couple of minutes down the road. Tom Cruise is also said to own a house nearby while fashion model Erin O'Connor is a local.
Resident, the comedian Jenny Eclair, posted about the shop on Twitter, saying: "Does anything sum up the economic climate more than Foxtons in East Dulwich downsizing and relinquishing their former premises to Poundland?"
A follower replied: "A Poundland that's £50,000 off the value of your house if you live in Dulwich...could an artisan croissant shop not have been found to take the lease?" to which Jenny replied: "There are already 719 of those."
Steph Taylor dubbed the new arrival "a disaster" on Facebook - and her post gathered more than 600 angry replies.
She told the Southwark News: "I'm not pleased to be honest. When we look at the world of throwaway culture, Poundland is full of poorly made plastic.
"It brings down the value of the street and we are heading towards more and more chains. I'm so disappointed that this is arriving. I would have preferred nothing over Poundland. It is just the worst news."
But others said posh people needed to get with the times.
"What is the problem or the issue with the new Poundland being on Lordship Lane??" one said. "My family have lived in East Dulwich/ Peckham since 1968 and have seen many changes.
"I myself have seen the many changes. Dulwich is awash with coffee shops and independent shops which is good. Some of us can't afford the independent shop prices. Not all of us have a house on a hill. This is about balance!"
Another said: "I personally think it is good news that Poundland is coming to East Dulwich. Let's pray an Aldi or Lidl comes to Lordship Lane as well."
"The sheer indignity of having to see a shop serving budget-conscious customers in an area containing some expensive houses," another replied to Steph. "Sending thoughts and prayers to Steph Taylor at what must be an incredibly difficult time for her."
A person added sarcastically: "Oh no what a disaster I was hoping for another lousy coffee shop to buy my macchiato."
And one said: "Rather have a Poundland than a Foxtons. At least it's a practical service for the community at large."
Another mentioned the economic climate, adding: "Things must be getting tough out there. East Dulwich Foxtons being reborn as Poundland."
And a further joked: "East Dulwich life has become quite volatile and scary in response to the imminent arrival of Poundland on Lordship Lane. The snobs are getting lairy."
Meanwhile a Twitter user added: "Wow! Well done @Poundland actively recognising plight of hungry+struggling £LivingWage loc res+doing 'Reverse-Gentrification' in East-Dulwich SE22!"
Barry Williams, Poundland managing director, said: "We know how customers appreciate the effort we've made in the last few years to transform our offer, offering them more of what they want to buy, week-in, week-out.
"That transformation means we have to step up our search for the best locations to bring the best of Poundland to customers across the UK and that's precisely what we'll do in 2023.
"We will continue to work hard to find the right locations that suit the range of Poundland formats we now offer - from small neighbourhood convenience stores to our large destination stores."
Speaking of the furore, Poundland's director of retail, Darren Kay, added : "While our impending arrival on Lordship Lane has caused a bit of a hoo-ha, we can't wait to open our doors and show Lordship Lane what we're offering.
"What's more we think our promise to deliver amazing value is as important to the residents of East Dulwich as it is to customers in East Kilbride and East Grinstead. We look forward to helping all Southwark residents save money on the grocery items they need."
