Northdale acquires Huddersfield shopping centre for £32m
Northdale Advisors has acquired Kingsgate Shopping Centre in Huddersfield from Wd Ltd for a fee in the region of £32m.
The 280,000 sq ft scheme is home to tenants including The Light, Sports Direct, TK Maxx, and Boots, which is due to open later this year.
The Light, a 70,000 sq ft cinema and leisure complex, anchors the scheme and opened in April 2025.
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.
Kingsgate Shopping Centre has been owned by Wd Ltd since its development, which concluded in 2002.
Cushman & Wakefield represented WD Ltd, whilst LM Real Estate acted for Northdale Advisors.
Peter Everest, CEO of WD Ltd, said: “This is the end of our 30-year involvement with Kingsgate. From its original construction and through a changing retail landscape, it has evolved into a diverse retail and leisure centre that will be the heart of Huddersfield for years to come.”
Josh Vernon, partner in Cushman & Wakefield’s Retail Capital Markets team, added: “This is a fantastic outcome for our client, and we are delighted to see Kingsgate change hands. Since launching to the market, the asset has generated a significant amount of attention from investors due to its clear potential and opportunities to grow revenue. This includes building on the strong leasing activity taking place within the centre and enhancing the F&B offering to create a leisure quarter. The strong depth of interest clearly demonstrates the broadening appeal of the shopping centre investment market.”
John Griffin, joint managing director and head of Investment at LM, said: “We have been supporting Northdale Advisors since 2022, helping them to acquire a number of value-add assets with strong opportunities for active asset management and income growth. This purchase is a great example of that strategy in practice, with its evolving leisure offering and the potential to further enhance the scheme to support the wider ‘cultural heart’ regeneration being delivered by Kirklees Council.”