Buildings sale will 'reinvigorate' city centre

Hull City Council has agreed the sale of a number of high street buildings, including units occupied by Lush and the former Woolworths store, to a private property developer.

The authority said Prospect 2024 Ltd's purchase of 41-79 King Edward Street and 46-54 Jameson Street would reinvigorate the area, making the units more attractive to potential tenants.

In its decision record, the council said the retail market in the city centre had changed in recent years and demand and rent had fallen "across the board".

Prospect 2024 Ltd, a group of companies headed by Zahid Iqba, said it planned to invest £1m and provide smaller units to make them more attractive to independent businesses.

Plans are also in place to refurbish and convert vacant upper floors of the buildings to residential accommodation.

Councillor Jackie Dad, deputy leader of the council, described it as "fantastic news" for the city.

"The company has already shown confidence in Hull city centre by purchasing The Prospect Centre last year and is now building on that with the units on King Edward Street and Jameson Street."

Mr Iqbal said he had "confidence" in Hull as a major regional centre.

"The number of new developments and new businesses is a testament to this and the ever-growing food scene is instrumental," he said.

"Hull is really gathering momentum and we are committed to bringing new operators into the city to support this."

The developer has reinvigorated a number of shopping centres in the north of England in recent years, including Packhorse Shopping Centre in Huddersfield and The Ridings Shopping Centre in Wakefield.

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