Nottingham property company ALB Group has purchased a prime retail site in Huddersfield with a view to kick-starting a resurgence of the town centre. The firm has acquired the 80,000sq ft 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 underperforming town centre retail assets.
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. The team behind the project is also keen to provide student accommodation above some of the units.
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.”