Huddersfield retail scheme acquired by ALB Group
A prime retail site in Huddersfield that is home to retailers such as Primark, Home Bargains, One Below and Ladbrokes has been acquired by Nottingham property company ALB Group.
The 80,000 square foot building is situated in the town’s New Street.
The move follows a number of similar acquisitions by ALB Group of underperforming town centre retail assets across the UK.
Arran Bailey, managing director of ALB Group, said: “The New Street building in Huddersfield is a major acquisition for us, and we already have some exciting new tenants lined up for the property. Like many towns and cities across the UK, Huddersfield faces difficult challenges with the rising cost of living and high street retailers often struggling to survive.
“But these places represent the life blood of the community, and we are determined to provide an environment that not only supports the existing businesses but also encourages new, independent traders to set up shop. This way, we can help breathe new life into Huddersfield town centre.”
ALB said it will be offering more affordable and flexible lease contracts, particularly to encourage independent, local entrepreneurs to trade alongside the larger high street chains. The team behind the project is also keen to provide student accommodation above some of the units.
The acquisition represents the third major town centre purchase by ALB Group from global asset management company Columbia Threadneedle Investments. It follows the recent acquisitions of Moxon Island shopping centre in Stoke-on-Trent, the Sailmakers shopping centre in Ipswich, and seven key buildings in Derby’s Albion Street.
