Leisure-anchored Huddersfield shopping centre heads to market with £36m price tag
A shopping centre in Huddersfield town centre has been placed on the market with a £36.25m asking price, reflecting a net initial yield of 10.5%.
Spanning 280,000 sq ft, Kingsgate Shopping Centre sits on a freehold 5.41 acre site and is anchored by Sports Direct, Tk Maxx, and leisure operator The Light, which opened this year. The scheme is also set to welcome Boots in 2026.
The asset generates a total gross income of £4,457,644 per annum and has a weighted average unexpired lease term of 7.34 years to break and 9.07 years to expiry.
Kingsgate Shopping Centre – which was acquired at the end of 2024 by Northdale Asset Management – is also supplemented by a 650-space multi-storey car park.
The scheme sits adjacent to the town’s only other managed shopping centre, Packhorse Shopping Centre, which is predominantly home to an independent line-up of retailers and food and beverage operators.
Adjacent to the main entrance of Kingsgate is the Piazza Shopping Centre, which is set to be demolished as part of a major redevelopment within the town’s ‘Cultural Heart’ initiative. Construction is currently underway, with completion of Phase One expected in 2026.
Cushman & Wakefield have been appointed to find a buyer for Kingsgate Shopping Centre.