The Arndale Centre, Headingley’s 125,834 sq ft shopping centre, has been sold to Schroder Real Estate Investment Trust for £16.23m. The busy shopping destination houses 23 tenants, including Pizza Express, Sainsbury’s, and the ever-popular Arcadia wine bar.
The empty retail space in the centre has been a source of discontent for shoppers in Leeds for a while, as it made the place seem a bit run down. But with this new acquisition, it is hoped new life will be breathed into its 40 year-old lungs. Morrisons had already begun this process, signing an agreement to let three empty units.
Peter Lund, a Leeds-based chartered surveyor who acted for Schroder in the deal, said, “The Arndale Centre has been bought at the right time. Headingley is going to improve dramatically in the next few years, particularly with the proposed trolleybus scheme.”
While this is a welcome prediction, the proposed trolleybus scheme is far from a dead cert. Moreover, it isn’t at all popular. Still, with or without it, an improved Arndale Centre will be great for Headingley.
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