Hull City Council Sells City Centre Units for £1M Regeneration Investment

Hull City Council has agreed to sell several city centre retail units, including those at 41-79 King Edward Street and 46-54 Jameson Street, to Prospect 2024 Ltd in a move aimed at urban renewal and regeneration. The developer plans to invest £1 million to refurbish these properties, creating smaller retail units to attract independent businesses and converting vacant upper floors into residential accommodation. This sale follows Prospect 2024 Ltd's earlier purchase of The Prospect Centre and adjacent units, reflecting the company’s confidence in Hull as a major regional centre. The council highlighted the retail market's decline, noting that without intervention, demand and rents would continue to fall, and welcomed the investment as an opportunity to inspire further private sector regeneration. Prospect 2024 Ltd has a history of revitalizing shopping centres across northern England, including in Huddersfield and Wakefield. Local officials expressed optimism that these efforts would enhance the city's appeal and attract new operators, supporting Hull's growing momentum as a destination for visitors and businesses.