Hull offloads city centre retail units

The council has sold 41-79 King Edward Street and 46-54 Jameson Street to Prospect 2024 in a bid to boost high street regeneration, with a condition of the sale being an agreed schedule of improvement works.

Prospect 2024 plans to refurbish the vacant upper floors of the units into residential accommodation and install new shop fronts, to make the stores more attractive to tenants.

This follows the company’s acquisition of the Prospect Centre last year along with other units on King Edward Street, close to the former Boots store.

The company is part of a group that have invested in shopping centres in the North, including Packhorse Shopping Centre in Huddersfield and The Ridings in Wakefield.

Cllr Jackie Dad, deputy leader of the council whose portfolio includes land, property, assets, and corporate buildings, said: “The council welcomes the proposed transformation and hope it inspires others in the private sector that Hull is a great place to invest and regenerate.”

Zahid Iqbal, Prospect 2024 owner, said: “The work that has been done and is being done by the council and other city centre organisations is really turning Hull into a destination for visitors from further afield.

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

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