Prime retail site in Huddersfield gains new owner to boost town's economy

The property company ALB Group has purchased a prime retail site in Huddersfield with a view to kick-starting a revival of the town centre.

The firm has acquired the 80,000 sq. feet building in New Street that currently houses businesses including Primark, Home Bargains, One Below and Ladbrokes.

It follows a number of similar acquisitions by ALB Group across the UK of town centre retail assets.

A spokesman said: "ALB is seeking to breathe new life into town and city centres by offering more affordable and flexible lease contracts, particularly to encourage independent, local entrepreneurs to trade alongside the larger high street chains.

Nottingham property company ALB Group has purchased a prime retail site in Huddersfield

"The team behind the project is also keen to provide student accommodation above some of the units. "

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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 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.”

The New Street property is the third major town centre purchase by ALB Group from global asset management company Columbia Threadneedle Investments.

Phil Daniels, director at FHP Property Consultants, Nottingham, represented ALB in the transaction agreed with Columbia Threadneedle Investments.

He said: “It was a pleasure once again to work with ALB Group and advise on the acquisition of this excellent asset in Huddersfield.

“We’re very keen to do more deals on the same sort of lines, to bring underperforming assets back to life, regenerating the nation’s high streets and bringing a wider variety of independent local entrepreneurs into our retail centres.”

Arran’s business partner Harry Whyte, of HBW Group, said: “We have worked in partnership with ALB on a lot of these projects and have been successful in providing 59 units in Birkenhead town centre above TK Maxx, Barclays and British Heart Foundation.”